''Chinese Yuan Could Be Reserve Currency in a Decade''

From Global Atlanta

"The reality is that RMB settlement, whether resulting from trade, investment, M&A, IPO, securities and commodities trading, will continue to gain momentum and acceptance in our global economy. The RMB will become one of the world’s reserve currencies, alongside the U.S. dollar, the euro, the pound sterling and the yen. The question is not if this will occur, but when?

History offers some clues. It took the Japanese yen 17-18 years to become a reserve currency. But the Japanese did not utilize cross-border trade settlement as a key step during the process in 1960s.:

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