Belt and Road Initiative boosts RMB internationalization, reshaping global economy.
The article discusses the need to reform the international monetary system to reduce the dominance of the US dollar and create a more stable global economy. It suggests that the internationalization of the Chinese currency, the RMB, can help achieve this goal. The Belt and Road Initiative, a strategy to enhance economic cooperation between China and neighboring countries, is seen as a key opportunity to promote the use of the RMB in trade, investment, and financial markets. By increasing the use of the RMB in international transactions and expanding its circulation, China can advance the process of RMB internationalization while managing risks.