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Allowing it to payjust over $1 billion of its imports this month in the chinese currency. and today, the argentine economy minister sergio massa is travelling to china to seek even greater use of the yuan in foreign trade. live now to patrick reid, co founder of the adamis principle, a consultancy specialising in global currency markets. china has been touting this as a rival to the us dollarfor some time. how successful has that been with other countries? it is really not that great insignificance purely because if you look at the bank of international settlements statistics, the dali is 88. ....
Argentine Economy Minister Sergio Massa will reportedly seek an expansion of the nation s currency swap line during a trip to China this week, a move observers said will help the Latin American country hedge against diminishing dollar reserves. ....
Consists 88% of global transactions whereas the chinese yuan is just 4%. what we really need to unpack here is what constitutes a global reserve. there needs to be a lot of it and there isn t a lot of the yuan. it needs to be free flow and that is not free flow because it is a managed float and people need to trust it, too, so there is some issue around the yuan to become a credible replacement. you know, the dollar, separating us policy, which is very separate to the actual currency, the dollar is the international oxygen for all countries and i just see that remaining like that for some time to come. the ox ten, that for some time to come. the oxygen. but that for some time to come. the oxygen. but for that for some time to come. the oxygen, but for how long? do you think its dominance will ever really be disrupted? well, ou ust ever really be disrupted? well, you just have ever really be disrupted? well, ....
A China-Africa cross-border yuan settlement center has opened in Yiwu, the world s largest wholesale market for small commodities, in East China s Zhejiang Province, according to Yiwufabu, the official WeChat account of the Yiwu government on Monday. ....