The road map of RMB internationalization changed significantly around 2018. However, the road map of both stages contains potential financial risks. Based on the multi perspective analysis of the competition between leading powers and geopolitical relations, the inertia of the US dollar, the economic size gap between China and the United States, the development level of domestic financial markets, potential benefits and risk considerations, the goal orientation of RMB internationalization should be currency normalization, rather than becoming a dominant international currency. In order to steadily and prudently promote the internationalization of RMB, from the demand side, only by cultivating the real and sustainable demand of non-residents for RMB, can we avoid the threat of RMB internationalization to domestic financial stability and realize the sustainable development of RMB internationalization; From the supply side, it is mainly to cultivate a developed domestic financial market, deepen and broaden the financial market, and improve its openness, so as to enhance the attraction and availability of RMB to non-residents and reduce the financial risks related to the internationalization of RMB.