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The race for China’s currency

Posted on 16 October 2013

But the chancellor, George Osborne, sees London winning the race to be the global hub for the Chinese currency - known as the yuan or renminbi (RMB) - and says that win will be important for “generations of Britons” to come.
Speaking to the BBC, the chancellor has admitted that the UK has been slow when it comes to China. He blames his predecessors over the past 10-15 years for not doing enough and relying too much on Europe. But he says that he has made it his personal mission since coming to office to rebalance the economy………………………………………..Full Article: Source


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