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Abstract Internationalization of RMB is a gradual process of development. Currently, this process has already begun. This is a profound influence to our country's economic development. With the further internationalization of RMB, the internationalization of the RMB issue has increasingly become a hot academic topic. How and to what degree does RMB internationalization affect China's macro-economy？Based on one of CGE models----China's MCHUGE model, this paper researches the effect of RMB internationalization on China's current macro-economy and the economic development trend under different degree of internationalization of RMB. The simulation results show that: the internationalization of RBM tends to improve the terms of trade, employment and industry optimization; however, the degree of internationalization of RMB is still quite low now, and it needs a long time to internationalize RMB completely.
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Received: 03 July 2009
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Corresponding Authors:
LIU Yi-wen
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2009, Vol. 1 
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