Main Quotes Calendar Forum
flag

FX.co ★ Is Chinese yuan conquering the world?

back back next
Forex Humor:::2013-10-16T08:12:00

Is Chinese yuan conquering the world?

China expressed its concern regarding the long-standing problem in solution to the issue of the justifiable U.S. debt ceiling hike. On the one hand, there is a weighty cause for anxiety as the official estimates show that this Asian country holds the U.S. debentures to the amount of over $1 trillion. However, some economists believe that the actual value is much higher. Through the offices of intermediate agents, Beijing could have purchased U.S. securities worth $3.5 trillion. Nowadays, it sends a clear message that it is going to keep an eye out for “the U.S. state budget matter”. On the other hand, the temporary hardships play into the hands of the national currency, the yuan. It is the protracted budget crisis in the world first-largest economy which suggests that China can submit for consideration the possibility to use the Chinese yuan as one more major currency. Lots of international experts in terms of the economic relations are certain that Beijing stands nearly a 100% chance to implement the Chinese yuan as the main monetary means for accounts among the Asian states of the Pacific region especially amid the current dollar fluctuations. As an extra point in its favor, China’s government blusters out threats to release the official papers in order to reveal how many debenture bonds have been actually acquired and then to announce that the U.S. have failed to fulfill their obligations. After that, for the debt repayment money lenders are entitled to demand shares of American investment, petroleum, and transport companies that have been actively operating in East Asia.

Share this article:
back back next
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...