Internationalization of the renminbi in the context of building the foundations of Chinese hegemony

In the 21st century, the Chinese currency gradually gains its position in the international monetary and financial system. The pace of making structural reforms in China is accelerating. These reforms are supposed to start a new growth model of the local economy. The base of this development is the internationalization of the renminbi. It is among the means by which China wants to achieve sustainable growth and in a longer term attack on hegemonic position in the world economy. This thesis examines the extent to which the renminbi becomes the world's tender and the impact this fact would have on the layout of the world economy, hence on China itself