Renminbi reserve currency?
A development worth watching:
"Economists say the SDR plan is unfeasible for now but see Beijing’s currency swap deals [with Argentina, Malaysia, Indonesia, South Korea, Belarus] as pieces in a jigsaw designed to promote wider international use of the renminbi, starting with making it more acceptable for trade and aiming at establishing it as a reserve currency in Asia, something that would also enhance China’s political clout" Extract from Financial Times
Posted on 04/06 at 11:05 AM.
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