29.04.2015 - How the Yuan Could Win Reserve Currency Status Even if the U.S. Objects
Will the U.S. back China’s latest bid to make the yuan a global currency? It may not really matter. Washington’s veto-power at the International Monetary Fund may not apply when the executive board decides later this year whether to include the yuan in the elite basket of currencies that comprise the IMF’s emergency lending reserves. China’s bid to get its currency included in the IMF’s Strategic Drawing Rights, or SDR, has recently gained support from key U.S. allies as Beijing increasingly flexes its muscle in the global economy...............................................Full Article: Source
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