The People’s Republic of China makes ambitious plans to usurp the world. This time its aim is the moneyed interests. The country’s government has set the task to make the national currency, yuan, the global means of payment. The plans are extremely groundbreaking; the yuan has to substitute the U.S. dollar. The biggest share of raw materials is traded in the US dollars; many counties transfer their money holdings to the U.S. dollars, besides, it is the most used currency in the world. However, taking into account a modern situation, US economic problems, as well as a constantly increasing national debt, many market participants try to find an alternative. For example, OPEC plans to start estimating oil using a basket of currencies by 2018. Taking into account the latest news about the U.S. government shutdown, many economists regard the yuan as a major opponent, as China’s economy demonstrates stability even amid crisis. Moreover, China has the biggest US dollar stock, several trillions; that is enough to correct the prices even on the open markets. At the moment, the yuan is virtually not used, however, its liberalization is ongoing. The recently opened free trade zone in Shanghai enables free exchange of the national currency. If the experiment succeeds, it may be implemented on the international level. Meanwhile, the U.S. government cannot solve inner problems; China’s government preserves possibility to cope timely with the situation. For the countries looking for a stable alternative to the U.S. dollar, the yuan will be more and more preferable.
