Wednesday, April 17, 2013

Stealthy Yuan

Summary of two years of the Yuan internationalization efforts, due to decreasing faith in USD and china's increasing prominence: 

-"World's Second (China) And Third Largest (Japan) Economies To Bypass Dollar, Engage In Direct Currency Trade", 
-"China, Russia Drop Dollar In Bilateral Trade", 
-"China And Iran To Bypass Dollar, Plan Oil Barter System", 
-"India and Japan sign new $15bn currency swap agreement",
-"Iran, Russia Replace Dollar With Rial, Ruble in Trade",
-"India Joins Asian Dollar Exclusion Zone, Will Transact With Iran In Rupees",
-"The USD Trap Is Closing: Dollar Exclusion Zone Crosses The Pacific As Brazil Signs China Currency Swap",
-"Australia And China will Enable Direct Currency Convertibility", and the latest
-"France intends to set up a currency swap line with China to make Paris a major offshore yuan trading hub in Europe, competing against London."


source: Zero Hedge

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