The Institutional Supply of China’s Participation in the International Monetary System Reform

Abstract

There exist dual features of internationalization and regionalization in the current international monetary system, and the U.S. dollar is still in a dominant position in the system. A lack of relevant institutional constraints has led to institutional deficiencies and systematic risks in the international monetary system, and resulted in the frequent financial crises in the world in recent years. As an emerging economy closely related to the current international monetary system, China has responsibilities and obligations to participate actively in international monetary system reform and push forward international monetary system reform through institutional supply.