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RMB to become one of global reserve currencies: Expert

Posted on 21 October 2011

China’s currency yuan is expected to become an important global reserve currency, although it will not challenge the US dollar’s dominant role in the international monetary system, said a US economist on Wednesday.
In the short term, the US dollar’s status in the world remains unrivaled, but in the long run, there would be a different picture if the US economy fails to support its global privilege, Barry Eighengreen, professor of Economics and Political Science at the University of California, Berkeley, said at a book discussion event at the International Monetary Fund (IMF) in Washington……………………………………….Full Article: Source


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