Ryaskova E.S. CHINA’S EXPERIENCE IN THE PROCESS OF FINANCIAL GLOBALIZATION

DOI: https://doi.org/10.15688/ek.jvolsu.2021.1.16

Ekaterina S. Ryaskova

Trainee Researcher, Department of Financial Management, Lomonosov Moscow State University, Prosp. Lomonosovskiy, 27, Bld. 4, 119991 Moscow, Russian Federation, This email address is being protected from spambots. You need JavaScript enabled to view it. , https://orcid.org/0000-0003-3855-4220


Abstract. The article examines the country’s strategy to “enter” the process of financial globalization. China’s embrace of globalization differs from many countries. In globalization processes, the financial component began to play a key role, giving multidirectional impulses to the development of the world economy. Financial globalization has engulfed all developing countries, which began to deregulate financial markets and promote capital liberalization, exposing national systems to systemic risks. The author proves the nature of China’s policy of “entering” the process of financial globalization, alternative from other countries, and describes the stages of introducing restrictions on the flows of speculative capital, the development of the stock market, as well as step-by-step decisions of the authorities to liberalize the conditions for the entry of foreign capital into the country. The article proves that the “moderate” nature of China’s strategy, the late opening of financial markets gave positive results for the country’s economic growth and the stability of the financial system. At the moment, China is actively opening its economy to foreign investors and capital without “shocks” and sets itself the goal of becoming a player that forms the rules in the world market.

Key words: globalization, financial globalization, global financial capital, China (People’s Republic of China), economic policy, yuan.

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CHINA’S EXPERIENCE IN THE PROCESS OF FINANCIAL GLOBALIZATION by Ryaskova E.S. is licensed under a Creative Commons Attribution 4.0 International License.

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