earticle

영어

RMB internationalization improved in 2013 with the “Belt and Road” initiative. The scheme first regionaliz ed t he R MB i n Belt a nd R oad nations, t hen globalized i t. Chinese c ompanies’ worldwide development and foreign direct investment have increased due to the “One Belt, One Road” policy. This paper examines how Chinese OFDI affects RMB internationalization under the “Belt and Road” program. The analysis uses ARIMA and combines theoretical and empirical methodologies. The research targets Belt and Road ASEAN nations. The empirical research found that outward foreign direct investment (OFDI) may boost RMB recognition and ASEAN-China economic and financial relations. Thus, it would promote RMB acceptance and globalization in these locations.