TEN VECTORS OF INNOVATIVE DEVELOPMENT OF THE MONETARY AND FINANCIAL SYSTEM (based on Wang Yunli's book “China's Choices in the Global Financial Turbulence”)

Abstract

The article presents Chi Jimin’s informative translation from Chinese of Wang Yongli’s book “China’s Choice in the Global Financial Turbulence”. For the first time the Russian language version suggests the main concepts of the Chinese scientist. The main systems of economic and social development, globalization and a centenary history have become the context of the actual problems of monetary and financial sphere studies. The author explores the changes in the international monetary and financial system against the backdrop of profound changes in the structure of the world system and closely links theory and practice. Leading the world in in terms of the aggregate power and international influence is a strategic goal of Chinese finance. The main aspects of Wang Yongli’s book focus on the analysis of key issues and directions of the international monetary and financial system reform. Significant changes in the world have become the determining factors of the author’s innovative views on financial theory. An accessible explanation of professional monetary and financial concepts and a number of new perspectives are different from traditional textbooks. The study of the essence, logic and laws of monetary and financial development allowed the author to identify four interrelated parts such as the origin and evolution of tangible currency; the evolution of currency from tangible to intangible; Chinese monetary finance against the background of reform and openness; the future development of monetary finance.