Assessment of the prospects and potential impact of the Chinese yuan as an alternative international currency

Subject/topic. The article is devoted to the study of the Chinese yuan as an international reserve currency. The purpose of the study is to determine the role of the Chinese yuan in the global monetary system and assess the prospects for increasing its importance as a new reserve currency. Methodology. In the process of developing the article, general scientific methods (retrospective and chronological analysis, synthesis, induction, deduction), and special graphoanalytical methods were used. Results. According to the results of the scientific research, a retrospective analysis of the processes of gaining world hegemony by countries that succeeded each other in the status of leader was presented, the key prerequisites for the country's achievement of economic and geopolitical primacy were identified, which include: an advanced education system; competitiveness of goods; a developed financial market; military power. These same prerequisites form the potential of the national currency. Conclusions/significance. The authors systematize the views of Russian and foreign scientists on the potential of the Chinese national currency. Based on data from international and Russian statistical sources, conclusions are drawn about the prospects for expanding the use of the Chinese yuan in international settlements.