2007-08 年爆發全球金融危機後，美聯準會(Fed)實施三輪的量化寬鬆貨幣(QE)政策以支持金融穩定與刺激經濟成長。Fed 的 QE 政策導致美元貶值，這意味持有過半美國債券作為儲備貨幣之外國官方機構(Foreign Official Institutions, FOIs)，其國債部位將產生巨大之資本損失。強調新自由主義世界秩序重要性之國際政治經濟學文獻，在論述金融全球化時指出， Fed 的銀行紓困計畫對其他經濟體形成非意圖性之資本流動的外溢效果。藉由 ..

In the wake of the global financial crisis that struck the world in 2007- 08, the U.S. Federal Reserve(the Fed)has undertaken three rounds of quantitative easing(QE)in an effort to sustain financial stability and stimulate economic growth. However, the Fed’s QE policy inevitably resulted in dollar depreciation, which means a huge capital loss for foreign official institutions ( FOIs ) since FOIs hold more than half of the outstanding stock of U.S. Treasury securities as official reserve holdings. Existing International ..

北京倡議的「亞洲基礎設施投資銀行」(簡稱:亞投行)，在華府眼中，卻認為會挑戰到當今美國主導的全球經濟秩序。事實上，資本額度僅 1000 億美元的亞投行，無法撼動美國在全球金融政治中的主導地位。美國對亞投行戒慎恐懼，真是美元的地位受到威脅?亞投行的設立是否真能實踐人民幣國際化的目標?本文主張，中國應支持亞投行以美元發行(而非人民幣計價) 的「亞投行債券」，並同時設立「帶路基金」發行人民幣計價的「帶路基金債券」。如此，中國才得逐步降低對美國國債的過度依賴，掌握到..

Beijing launched the Asian Infrastructure Investment Bank(AIIB)in order to offer financial resources for more investments to Asian countries in need. To some extent, the US$ 100 billion AIIB is not supposed to impose any serious threat to U.S. dominance in global finance. Why does the U.S. fear the China-led AIIB? Would the establishment of AIIB speed up decline of the dollar as an international currency? Is the AIIB likely to contribute to further internationalization of the renminbi(RMB)? This paper contends that China shou..