<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The paper analyzes if the international monetary system calls for reform and whether China and the renminbi will play a decisive role in the post COVID-19 world. It also evaluates the main scenarios and trends that is being discussed since the global crisis – selecting the relevant authors, journals, institutions and opinions – examines present conditions and tries to extrapolate into future trends. Opting for a nontechnical approach, the article could be a good insight into the international monetary system, for academics, non-experts and policy makers. The paper concludes that if the 2008 crisis has induced the growth of the China role in the international monetary governance and the increase of the renminbi internationalization, the COVID-19 pandemic and post crisis reconstruction could generate a deeper reform of the international monetary system, in which the Chinese currency will strengthen its global position alongside the US dollar and the euro.</p>
</abstract>

The paper analyzes if the international monetary system calls for reform and whether China and the renminbi will play a decisive role in the post COVID-19 world. It also evaluates the main scenarios and trends that is being discussed since the global crisis – selecting the relevant authors, journals, institutions and opinions – examines present conditions and tries to extrapolate into future trends. Opting for a nontechnical approach, the article could be a good insight into the international monetary system, for academics, non-experts and policy makers. The paper concludes that if the 2008 crisis has induced the growth of the China role in the international monetary governance and the increase of the renminbi internationalization, the COVID-19 pandemic and post crisis reconstruction could generate a deeper reform of the international monetary system, in which the Chinese currency will strengthen its global position alongside the US dollar and the euro.

The Challenges of Reforming the International Monetary System in the Post COVID-19 World

Studies in Business and Economics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The paper analyzes if the international monetary system calls for reform and whether China and the renminbi will play a decisive role in the post COVID-19...

The Challenges of Reforming the International Monetary System in the Post COVID-19 World

Published Online: Jan 26, 2021

Page range: 61 - 73

DOI: https://doi.org/10.2478/sbe-2020-0045

Keywords
reform, multimonetary system, renminbi, US dollar, euro, post COVID-19

© 2020 Mărginean Silvia Cristina et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The Challenges of Reforming the International Monetary System in the Post COVID-19 World

Published Online: Jan 26, 2021

Page range: 61 - 73

DOI: https://doi.org/10.2478/sbe-2020-0045

Keywordsreform, multimonetary system, renminbi, US dollar, euro, post COVID-19

© 2020 Mărginean Silvia Cristina et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
reform, multimonetary system, renminbi, US dollar, euro, post COVID-19