In 2015, the International Monetary Fund introduced one of the largest and most significant reviews about the method of valuation of the SDR, which entered into force by October 1. In particular, this review allowed the entrance of the renminbi, the currency of the People's Republic of China, within the basket of the SDR. The main purpose of this analysis is to trace the excursion of the aforementioned reform, focusing on its main elements and reasons for which it has come to it and, the fundamental consequences for the monetary economy and international relations between the great economic powers. In order to reconstruct the economic development and the renewal path that has been planned and implemented in the last forty years by the Chinese government, this paper examines the reform, that has formalized China's position as a global economic player and has encouraged the renminbi as a possible currency for international exchange and reserve. China will benefit from this strongly desired recognition both to consolidate its status among the global affairs and as a stimulus, in domestic politics, to carry on the path of reforms, for example in terms of liberalization of the capital market, that is yet in evolution. It is unlikely that the renminbi can aspire to downsize the role played by the dollar, as a reference currency in trade and in international finance, without the achievement of the necessary reforms.
|Titolo:||La moneta invisibile: i diritti speciali di prelievo e il nuovo assetto geopolitico mondiale|
|Data di pubblicazione:||2019|
|Appare nelle tipologie:||05.1 - Working Paper|