From Daily Reckoning
By David Gonigam
''China has quietly taken a huge step toward supplanting the dollar as the world’s reserve currency.
A report from the Peterson Institute for International Economics
concludes a “renminbi bloc” has formed in East Asia. That is, since the
Panic of 2008, seven out of 10 major economies in East Asia have tracked
the renminbi closer than the dollar. That includes South Korea,
Indonesia, Malaysia, Singapore and Thailand.
The lone holdouts are Hong Kong, Vietnam and Mongolia.''
No comments:
Post a Comment