| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
China’s Ambitious Plan to Make the Yuan the World’s Go-To Currency
Thursday, September 29, 2016 19:58
% of readers think this story is Fact. Add your two cents.
China’s long-held desire to provide an alternative to the U.S. dollar will get a boost on October 1, when the yuan enters the International Monetary Fund’s basket of reserve currencies, placing it alongside the pound, euro, yen and dollar. The yuan’s ascent is a validation of the importance of the world’s second-biggest economy and the work policy makers have done to allow freer access to the nation’s markets.
China’s currency hasn’t kept up with its global ambitions
Still, there’s a long way to go. While China’s the biggest trading nation, the yuan is barely used in world markets. Even in U.S.-China trade, just 2.4 percent of all payments by value were conducted in yuan …. http://www.bloomberg.com
Source: http://luismmx.blogspot.com/2016/09/chinas-ambitious-plan-to-make-yuan.html
