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The Changing International Financial System

  • John JoshuaEmail author
Chapter

Abstract

The currently changing international financial system is analysed in details, including the functions and the operations of the international reserve currencies and the exchange rates. The financial crisis of 2008–2009 is seen here as a precursor of reforms. It has become apparent that financial institutions will eventually adapt to the newly emerging multipolar world order. The internationalization of the RMB and the decline of the American dollar have been analysed together with the Chinese exchange rate policies. It is vital that an international reserve currency is disconnected from the economic conditions of any single country. The BRI may eventually induce further changes to the international financial system. Finally the current global shift of economic power is explained.

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Copyright information

© The Author(s) 2019

Authors and Affiliations

  1. 1.Shui Mu Shan ChengFushunChina

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