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Is the Yuan About to Replace the Dollar as the World's Reserve Currency?

Is the Yuan About to Replace the Dollar as the World's Reserve Currency? | World History and Current Issues | Scoop.it

 

Three Essential Facts

 

- China's bond markets are not big enough or deep enough for the Yuan to displace the US dollar.

 

- Contrary to what most think, having the reserve currency is a a curse more than a blessing.

 

- Neither China nor the US wants to be the global reserve currency.

 


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Dollar no longer primary oil currency as China begins to sell oil using Yuan

Dollar no longer primary oil currency as China begins to sell oil using Yuan | World History and Current Issues | Scoop.it

On Thursday, Sept. 6... just a few days ago, China made the official announcement. China said on that day, our banking system is ready, all of our communication systems are ready, all of the transfer systems are ready, and as of that day, Thursday, Sept. 6, any nation in the world that wishes from this point on, to buy, sell, or trade crude oil, can do using the Chinese currency, not the American dollar.


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Will The Chinese Renminbi Replace The U.S. Dollar As The Primary Reserve Currency Of The World?

Will The Chinese Renminbi Replace The U.S. Dollar As The Primary Reserve Currency Of The World? | World History and Current Issues | Scoop.it

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