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Chinese Yuan Not Aiming To Rival Dollar

Cool the anxiety over the dollar’s reserve currency status.  Even the Chinese know the yuan won’t become a global reserve currency for decades. Xia Bin, an advisor to China’s central bank, wrote in the China Finance magazine: “The dollar will serve as the most important world reserve currency for a quite long time in the future”.  Ten years from now, he estimates, China’s currency is likely to account for no more than five percent of global currency reserves.

How much of those reserves will be in euros can’t be predicted at this time; nobody really knows whether the euro will still be around.

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  • Kris

    If the US dollar loses its reserve currency status, it won’t be because of developments originating outside the US.

  • Kris

    The one-eyed man is king.

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