Will RMB Replace the Dollar as the Global Currency?

China's economy has been growing quickly in recent years, and there have been numerous academic discussions on the internationalization of the RMB. Currently, academics mainly believe that the RMB will not replace the US dollar as the global currency in the near future.On the basis of summarizing the previous literature, this paper analyzes the feasibility of the RMB replacing the US dollar as a global currency through theoretical research and qualitative analysis. Conclusions are drawn after discussing the potential and obstacles for the RMB to become an international currency: RMB has the great potential to become a global currency, but it still requires a lot of effort from the Chinese government.In addition, the Second World War for the British pound - so even if the remaining barricades to the yuan becoming a global currency are removed it is likely to be years if not decades before it could assume this role.