Internationalization of RMB and its Effects on Economic Ties between Iran and China

One of the main subjects in political international economics is the question regarding money. It is such an important issue that many has attributed the roots of the second world war to the disorder encircled international monetary management in the late 1930s. Thus, after the war, in 1944, a new mechanism named International Monetary Fund (IMF) was established based on U.S. dollar; in order to oversee the international monetary system’s stability. Nevertheless, the dollar-dominated system weakened gradually and other currencies got more attention. Meanwhile, China started its Open-Up policy and strengthening its economic power resulting the increasing global attention to its RMB (Ren Min Bi, Official Currency of China) as one of the main currencies in different economic issues, and in recent years there has been written plenty of articles and writings in internationalization of RMB.
In order to understand the economic conditions of a country like Iran, as a state with revolutionary and nonparallel approaches toward the interests of the west, especially the United States, the author of this article, while providing a descriptive-analytical view toward the position of RMB in global economic system and its internationalization requirements, tries to analyze the economic relations between Iran and China especially after the withdrawal of the United States from Nuclear Deal (JCPOA) and imposition of its unilateral sanctions against Iran.
In this regard, many writings and precedents of the issue were reviewed. The analyses indicates that economic ties between Iran and China, especially after the withdrawal of the U.S. administration from JCPOA, is moving toward Yuanization in all areas.