Chinese Yuan Replaces Euro as Second Most Used Trade Transaction Currency

Swift reports that the renmimbi has passed the euro as a currency used in world trade. In January 2012, the renmimbi accounted for 1.89% of world trade. It was up to 8.66% in October 2013. The euro was 7.87%. This is a very dynamic rate of change.

I make bold to suggest that the abuse of the dollar by the Fed is producing unwanted consequences, which may possibly snowball.

The Bloomberg article is linked: http://www.bloomberg.com/news/2013-12-03/yuan-passes-euro-to-be-second-most-used-trade-finance-currency.html
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