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China working to make yuan key currency

Posted on 21 November 2016

The Chinese government is making strategic moves to construct an Asia-based economic bloc based on the Chinese yuan, also known as the renminbi, with the ambition of turning it into a currency capable of replacing the U.S. dollar in the world economy.
But China’s currency strategy under the one-party rule of the Communist Party may have a negative impact on the global community. The Chinese yuan was added to currencies that constitute the special drawing rights of the International Monetary Fund on Oct. 1……………………………………Full Article: Source


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