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Why the Chinese yuan won't be the world's reserve currency
By Valentin Schmid
The Epoch Times, New York
Wednesday, May 17, 2017
Whenever someone gets too big and too important, the other players who can't compete by themselves call for a challenger. This is true in sports, business, and even for currencies.
Because the dollar is so big and important, smaller countries were happy when the euro was launched to provide a counterbalance if not to challenge the dollar's position outright.
The euro ultimately provided that counterbalance, but never managed to dethrone the dollar as the world's foremost reserve currency. The euro is used in 30 percent of all global payments, according to payment provider SWIFT; the dollar is still No. 1 at 40 percent.
But what about the Chinese currency, the yuan, the one that investment bank HSBC predicted would become the third-largest global trade currency by 2015—is it the ultimate challenger to the dollar's top status?
Not so much. ...
... For the remainder of the report:
http://www.theepochtimes.com/n3/2250139-why-the-chinese-yuan-wont-be-the...
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