人民币国际化不能依赖SDR_时事_双语阅读-查字典英语网

人民币国际化不能依赖SDR

持有预防性储备的目的是为了进行市场干预，而不是为了获得回报，所以有深度、有流动性的市场是首要的考量。SDR资格对于储备资产地位来说既不是必要条件，也不是充分条件。例如，瑞士法郎并没有被纳入SDR货币篮子，但它被相当普遍地(当然是相对于瑞士经济规模而言)作为一种储备货币而持有。

Researchers at Citi asked official reserves managers recently if they agreed that SDRmembership would increase their willingness to hold renminbi assets (Citi economiststhemselves are bullish on the issue). On average they found the answer somewhere between“agree and “neither agree nor disagree: not nothing, but unlikely to be a major influence.

花旗(Citi)的研究人员最近询问了官方储备管理者，他们是否同意，人民币加入SDR将增加他们持有人民币资产的意愿(花旗的经济学家们对此持乐观态度)。总的看来，他们发现答案介于“同意和“既不同意也不反对之间：不是没有影响，但不大可能造成重要影响。

As it happens, perhaps unexpectedly, the euro may serve as an example of reservesmanagement reality overcoming symbolism. Upon its launch in 1999, the euro was oftenpredicted to rival the dollar as a global reserve asset, eliminating the exchange rate riskbetween different European currencies and forming the basis of a large and unified pool ofassets.