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The crisis processes seen in the global economy for a couple of years suggest that the global financial system is far from being perfect and that the US Dollar is not a stable global reserve currency. Numerous governments around the world keep saying that there is an urgent need to change the US Dollar for another global reserve currency. Many experts are pondering on the issue. In connection to this the Chinese Yuan sound like the most suitable alternative.
According to numerous experts, the Chinese currency may well replace the US Dollar within the next 10 years.
If to look back, we can see China accelerating and expanding its external trade. Beijing implemented a couple of reforms to improve the market of Yuan-denominated bonds. The significance of China’s economy and currency makes it relatively independent form the recent dollar and euro shocks.
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