Sunday 17 May 2009

China's yuan 'set to usurp US dollar' as world's reserve currency

Telegraph
"Professor Roubini, of New York University's Stern business school, believes that while such a major change is some way off, the Chinese government is laying the ground for the yuan's ascendance."
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US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is "quite open" to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund. (27.03.09)

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