PPP KINGDOM

PPP KINGDOM

CHINA’S YUAN COULD CHALLENGE USD ROLE IN A DECADE

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Here’s a bold prediction to feed Western worries that power is shifting inexorably to the East: China’s yuan could overtake the U.S. dollar as the world’s principal reserve currency as soon as next decade.

Beijing has been promoting the use of the yuan beyond its borders since 2009 to settle trade transactions. The resulting build-up of deposits in Hong Kong has spawned a thriving yuan bond market.

A U.S. $100 banknote placed next to 100 yuan banknotes in a picture illustration taken in Beijing, October 16, 2010. REUTERS/Petar Kujundzic

http://www.reuters.com/article/2011/08/30/us-economy-global-eclipse-idUSTRE77T2GX20110830

Best Regards,

FINANCIAL WARRIOR

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