Chinese Yuan Not Serious Threat to US Dollar Hegemony, Says Economist
An economist has dismissed the Chinese yuan as a significant threat to the U.S. dollar’s dominance. “The Chinese renminbi, which accounts for less than 3% of global reserves, is not a serious threat to dollar hegemony,” he asserted, adding that “many commentators have pointed to the probable emergence of a ‘multi-currency’ world in which the…
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