renminbi Jie Zhao/Corbis/Getty Images

中国应当被移除出特别提款权体系吗?

发自圣塔巴巴拉——在上周收紧了对人民币汇率的管制后,中国实际上已经违背了18个月前游说国际货币基金组织,将人民币列入到决定基金组织创设的综合储备资产“特别提款权”价值的一篮子货币时所许下的承诺。

这一最新举措不会有助于外界加强对人民币的信心。正如包括笔者在内的一些学者在人民币被纳入特别提款权货币时警告的那样,这是一项高度政治性的决定,并可能会导致不利的长期后果。这个篮子原本只包含美元,欧元,英镑和日圆,而这些货币都是符合国际货币基金组织两个准入标准的世界级货币:它们都由位居世界前列的出口国发行,而且是“可以自由使用的”——也就是说可以在全世界各处进行兑换。

相比之下,人民币在被纳入特别提款权货币时只符合了第一个标准。虽然中国已经是世界上最大的出口国,但其金融市场却相当原始,其货币远未实现自由使用。2015年人民币在全球央行储备中排名第七,在国际债券发行中排第八,位居全球货币交易量的第十一;而在大多数资本账户交易它依然是不可兑换的。

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