| Despite growing concerns that China's economy is in trouble, the country's currency is widely seen as a contender to oust the U.S. dollar from its dominant position in international trade. Judging from data on money transfers, it has a very long way to go.
No doubt, the Chinese currency is gaining global credibility. In November, the International Monetary Fund said that it would add the yuan to its basket of reserve currencies, bringing it into a club that includes the dollar, the euro, the British pound and the Japanese yen...............................................Full Article: Source
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