In one of its boldest move so far, Bank of China announces renminbi or yuan as:
“RMB: New Choice; The World Currency”
Will it be better for everyone this time?
Continue reading China Announces Renminbi as The New World Currency
Tag Archives: reserve currency
Dethrone King Dollar
Here’s the former member of Obama’s economic team, munching antagonistic views against the king of world currencies, .i.e fiat US dollar.
” From 2009 to 2011, Bernstein was the Chief Economist and Economic Adviser to Vice President Joe Biden, executive director of the White House Task Force on the Middle Class, and a member of President Obama’s economic team.”
Dethrone King Dollar
By JARED BERNSTEIN
August 27, 2014
WASHINGTON — THERE are few truisms about the world economy, but for decades, one has been the role of the United States dollar as the world’s reserve currency. It’s a core principle of American economic policy. After all, who wouldn’t want their currency to be the one that foreign banks and governments want to hold in reserve?
