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How the Yuan could take the dollar’s crown

Posted on 04 December 2012

China could eclipse the United States sooner than many think as the yuan (renminbi) becomes a major player on the word stage that could put the dollar in the shade, analysts said. China’s meteoric rise has propelled it into second place among the world’s biggest economies, leaving only the United States in its wake.
Consumption as a share of gross domestic product is still relatively low in China (35 percent compared to around 70 percent in the U.S. according to the World Bank). But a booming middle class could see the country move away from its export driven economy to a more import and domestically focused market. A market that would need a dominant yuan to allow it to have a trade deficit but remain competitive………………………………………..Full Article: Source


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