"Washington may have averted a debt default by compromising on how to cut the US budget deficit, but underlying problems remain and those economic woes are driving a global search for an alternative reserve currency.
Officials, from the head of the International Monetary Fund (IMF) to the Philippines finance minister, have warned that the US dollar may lose its reserve status.
For China, the largest lender to the US and the world's second biggest economy, the answer is close to home.
"I think the US debt crisis adds new urgency to the Chinese government's efforts to promote the yuan as an international currency," Zhang Ming, a Beijing-based scholar at the Chinese Academy of Social Science (Cass), tells BBC News"..........READ MORE
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