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2021 | OriginalPaper | Chapter

Role of National Currencies in Transforming International Monetary System

Author : Vladimir Shapovalov

Published in: Financial Markets Evolution

Publisher: Springer International Publishing

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Abstract

The chapter provides a brief overview of use of Euro and Chinese Yuan for international operations. Availabe date shows that the process of transformation of the international monetary system as a result of substituting US dollar with other currencies happens at a very slow pace. European and Chinese experience confirmes that government support followed by interaction with global market participants, macroeconomic stability and financial market development is requred for national currencies promotion in international operations.

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Title: Role of National Currencies in Transforming International Monetary System
Author: Vladimir Shapovalov
Publisher: Springer International Publishing
Book: Financial Markets Evolution
Print ISBN: 978-3-030-71336-2

Electronic ISBN: 978-3-030-71337-9

Copyright Year: 2021
DOI: https://doi.org/10.1007/978-3-030-71337-9_8