Exploring the Development Trend of RMB Internationalization in ASEAN from the Perspective of Cooperation Mechanism_Vol. 1 No. 5 (JSE 2024)_Journal of Statistics and Economics (ISSN: 3005-5733)

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Exploring the Development Trend of RMB Internationalization in ASEAN from the Perspective of Cooperation Mechanism

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DOI: https://doi.org/10.62517/jse.202411516

Author(s)

Hao Hong

Affiliation(s)

School of International Relations, Guangdong University of Foreign Studies, Guangzhou, Guangdong, China

Abstract

Over the past few years, the internationalization of the RMB has deeply developed within ASEAN countries. The economic and trade collaboration between China and ASEAN nations is inextricably linked. With the increasing demand for RMB usage in ASEAN, the infrastructure is gradually improving, and the influence of the RMB is strengthening. This is attributed to the formulation and implementation of regional cooperation mechanisms, building a pattern of political mutual trust, and promoting comprehensive connectivity, which brings opportunities and certain obstacles to the internationalization of the RMB in the ASEAN region. With the implementation of RCEP, this trend will become more apparent.

Keywords

ASEAN; RMB Internationalization; Regional Cooperation

References

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