Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

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Research on the Restructuring of the International Financial System under the COVID-19 Epidemic

Authors
Jingxin Yang1, *
1College of Plant Science, Jilin University, Changchun, 130062, Jilin, China
*Corresponding author. Email: chinayjx0808@stu.cpu.edu.cn
Corresponding Author
Jingxin Yang
Available Online 27 December 2022.
DOI
10.2991/978-94-6463-052-7_61How to use a DOI?
Keywords
COVID-19 epidemic; international financial system; reserve currency; dollar
Abstract

A global public health event with far-reaching and far-reaching consequences, the COVID-19 epidemic has not only disrupted the struggling global governance system and the world, but has also had a profound impact on international financial markets. In the post-corona era, the accumulation of financial risks and the escalation of risk crises can accelerate the rebuilding of the international financial system. On this basis, the development of the international reserve currency and institutional changes are indications. This article summarizes the development of the international financial system and its laws. Then, by analyzing the international financial situation resulting from the COVID-19 crisis, it concludes that it is impossible to balance the dollar’s hegemony in the modern international financial system. Globalization has not led to decentralization of finance, but rather to concentration of finance, increased financial risk and an imperfect international financial governance structure. Finally, the development direction of the international financial administration system is proposed on the basis of three aspects: international monetary system, international financial markets and international financial supervision.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
27 December 2022
ISBN
978-94-6463-052-7
ISSN
2352-5428
DOI
10.2991/978-94-6463-052-7_61How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Jingxin Yang
PY  - 2022
DA  - 2022/12/27
TI  - Research on the Restructuring of the International Financial System under the COVID-19 Epidemic
BT  - Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)
PB  - Atlantis Press
SP  - 514
EP  - 525
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-052-7_61
DO  - 10.2991/978-94-6463-052-7_61
ID  - Yang2022
ER  -