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China Currency Gaining Among American Corporations

Posted on 28 July 2014

Here’s a good one for those who think the dollar’s days are numbered. A survey released last week by HSBC Global says more U.S. multinationals are closing trade transactions in…you guessed it…the Chinese yuan.
Of course, this sort of news is right up HSBC’s alley. They are one of the premier financial centers in Hong Kong, where much of the off-shore Chinese currency transactions take place. It’s like a dream come true for the old colonial bank: the yuan increasingly being taken seriously as a viable trade currency………………………………………..Full Article: Source


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VRS - who has written 38538 posts on Opalesque Commodities Briefing.


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