Look What Will Happen After The Dollar Collapse
July 16th, 2013
Yuan hailed as the world reserve currency
Some serious supporters say the yuan’s day as a challenge to the greenback has come. But it depends on Beijing accepting the downsides
Its supporters excitedly describe it as rise of the “redback” – red for communist China as opposed to the greenback of the US. Now two distinguished academics have joined a chorus of bankers anxious to share in the lucrative business opportunities they see in the internationalisation of the yuan to challenge the US dollar as the global currency of choice.