The Chinese Currency’s Great Leap Forward

China is set to overtake the US as the world’s largest economy in less than a decade, but its currency, the renminbi, still accounts for just a tiny fraction of global trade settlement. While there’s a long way to go before it’s viable as a global reserve currency, we think that the renminbi will challenge the US dollar’s dominance in the Asia-Pacific region sooner than many expect. (more…)


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