| As former U.S. Secretary of State Colin Powell famously advised, China favors "overwhelming force" in its campaigns, military or otherwise. Most recently, in a direct challenge to the global economic architecture established by the U.S. and its allies after World War II, Beijing has pledged nearly $200 billion to various new lending institutions and funds -- to bolster trade with Europe, establish a footprint in the Indian Ocean, build infrastructure across Asia and generally increase the mainland's influence worldwide.
A new push to establish the renminbi as one of the world's reserve currencies adds to this campaign. The move would confer prestige, take America down a peg and attract more investment...............................................Full Article: Source
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