The Chinese yuan progresses rapidly to the
status of a reserve currency. Today it is the 7th most used currency
in the world, up from 13th in 2012.
18% of China’s trade is now settled in Yuan, but this is expect to rise
to 30% next year.
The major barrier to reserve currency status is
currency controls. When will China enact
full convertibility? That would be the
end of the US dollar’s quasi-exclusive reserve status.
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