The American Empire in a Changing World


Saturday, November 17, 2012

''China’s Next Step in Yuan Overhaul Is Convertibility, Zhou Says''

From Bloomberg

''The governor’s comments underscore pledges made by the ruling Communist Party during a once-a-decade power transition this week to promote freer movement of capital in and out of the country for investment purposes and to make the exchange rate more market based. China is seeking to boost the use of the yuan in international trade and finance to reduce the U.S. dollar’s global dominance and curb its own reliance on the currency of the world’s biggest economy.''

read more 

No comments:

Post a Comment