The Dual-Center Global Financial System The Perspective of China's R
This book focuses on the systematic change in the global economy accompanying the rise of China. Once China has the same huge and advanced economy as the U.S., the global economy’s current one-center system will have a chance to change: China will represe
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The DualCenter Global Financial System The Perspective of China’s Rise
The Dual-Center Global Financial System
Tao YUAN
The Dual-Center Global Financial System The Perspective of China’s Rise
123
Tao YUAN Department of International Economics and Trade, School of Economics Nankai University Tianjin China
ISBN 978-981-10-7991-7 ISBN 978-981-10-7993-1 https://doi.org/10.1007/978-981-10-7993-1
(eBook)
Library of Congress Control Number: 2017963861 © Springer Nature Singapore Pte Ltd. 2018 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Printed on acid-free paper This Springer imprint is published by the registered company Springer Nature Singapore Pte Ltd. part of Springer Nature The registered company address is: 152 Beach Road, #21-01/04 Gateway East, Singapore 189721, Singapore
Preface
The world economic and financial crisis from 2008 made people to question whether the Dollar-Center Global Financial System is sustainable, and China’s rise makes it possible that China has more economic responsibility for the world economy including Chinese RMB being one of the two center currencies of the Dual-Center Global Financial System. With huge economy and economic power, China can push forward the world economy especially when the world economy faces hard difficulties. After the world economic and financial crisis from 2008, China became the most important driving force of the world economy. Nowadays facing the de-globalization and de-globalization policies’ impact in the world, China again becomes the most important facilitator for the economic globalization, balanced and harmonious development of the world economy. Not only Chinese huge international trade, foreign direct investment and outward direct investment have promoted globalization, but also Chinese foreign students’ education and China’s huge outbound tourism market have promoted cultural exchange bet
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