Loginova V.E.Market Economy Institute of Russian Academy of Sciences, Moscow, Russian Federation interruptibility instityteb@mail.ru
Subject The article discusses the Chinese monetary policy, when in conditions of reduction in dollar supply China is actively pursuing the policy of expanding the monetary contour of Chinese economic influence as a tool to support the national economy under crisis aggravation. Objectives The study aims to analyze the Chinese strategy of using the external economic and financial factors to stimulate the economic growth in view of gradual exhaustion of possibilities to boost the national economic and social development from domestic sources under catastrophic reduction in external sources. Methods The paper rests on the study of the possibility of using the Chinese financial potential as a promising tool to manipulate the currency markets and gold in the world economy; processes of forming a new structure of the global monetary system’s segment with the participation of the yuan. We analyze trends in the formation of the new segment of the global financial architecture involving China based on international economic alliances. Results The analysis shows that it is still premature to talk about real competition of the yuan and US dollar for the status global currency, which was proved by the intensifying crisis in the Chinese financial system in summer and autumn of 2015. Conclusions There is a direct correlation between the aftermath of investment and industrial glut in China due to extreme growth and strengthening the structural economic and financial imbalances that create lay the foundation of a new round of China's economic crisis.
Keywords: crisis, global economy, economic activity, critical instability, monetary policy
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