Gazi Journal of Economics and Business 2548-0162 Aydın KARAPINAR 10.30855/gjeb.2022.8.1.005 Economics Ekonomi Küresel finans sisteminin ekonomi politiğinde renminbinin uluslararasılaşma süreci Renminbi’s internationalization process in the political economy of the global financial system https://orcid.org/0000-0002-1883-4754 Cengiz Orhan ÇUKUROVA ÜNİVERSİTESİ, POZANTI MESLEK YÜKSEKOKULU 02 18 2022 8 1 61 79 05 16 2021 01 10 2022 Copyright © 2015, Gazi Journal of Economics and Business 2015 Gazi Journal of Economics and Business

II. Dünya Savaşı’ndan sonra küresel ekonomi-politik sistemin inşa edilmesinde en fazla öne çıkan ve en yoğun rekabetin yaşandığı alanlardan birisi finansal sistem olmuştur. 1970’lere kadar yürürlükte olan Bretton Woods sistemi, tüm para birimlerinin ABD dolarına endekslenmesine dayanmaktaydı. Bretton Woods sisteminin çökmesinden sonra IMF (International Monetary Fund) öncülüğünde ve yine ABD’nin hâkimiyetinde küresel finans sistemi dizayn edilmiştir. 2008 küresel krizinin ABD finans sisteminin işleyişinden kaynaklanması, küresel finans sisteminden duyulan rahatsızlığı artırmıştır. Bu süreçten sonra küresel finans sisteminde aktif rol almak isteyen Çin, renminbinin (RMB) uluslararasılaşma sürecini başlatmıştır. RMB’nin uluslararasılaşması sadece ekonomik motivasyonları içermemekte bunun yanında, askeri ve politik hedeflerin gerçekleştirilmesine de odaklanmaktadır. Bu çalışma, yeni küresel finans sisteminin inşa edilmesinde Çin’in RMB’yi uluslararasılaştırma politikasını ele almaktadır. Çalışmanın ortaya koyduğu en temel sonuç şu şekilde özetlenebilir: Küresel finans sisteminin dönüşümü açısından Çin’in geliştirdiği argümanlar oldukça önemli olmakla birlikte, ulusal ekonomideki yapısal dönüşümlerin gerekliliği ve bölgesel açıdan yaşadığı jeopolitik riskler, ulaşmak istediği hedefleri sınırlamaktadır. Bu sınırlılıklara rağmen Çin’in uzun vadede küresel finans sisteminde dar kapsamlı da olsa söz sahibi olacağı öngörülmektedir.

After World War II, the financial system has been one of the most prominent and intensely competitive areas in constructing the global economic-political system. The Bretton Woods system, in force until the 1970s, was based on pegging all currencies to the US dollar. After the collapse of Bretton Woods system, the global financial system was designed under the IMF’s leadership and the USA’s domination. The 2008 global crisis that arose due to the functioning of the US financial system increased the disorder in the global financial system. After this process, China, which wants to overtake an active role in the global financial system, started the renminbi (RMB)’s internationalization process. The internationalization of the RMB includes not only economic motivations but also focuses on the realization of military and political goals. This study discusses China’s internationalization policy of RMB in the construction of the new global financial system. The fundamental results of the study can be summarized as follows: Although the arguments developed by China are significant in terms of the transformation of the global financial system, the obligation of structural transformations in the national economy, and the geopolitical risks it faces from a regional perspective restrict the aims it wants to realize. Despite these limitations, it is expected that China will have a voice in the global financial system, albeit narrowly, in the long run.

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