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Chinese | Yuan

Chinese yuan Topic in The Credit Debacle Catalog

Culture of Life News Thu 2010-05-20 16:57 EDT

Imbalances In World Trade Cause Tectonic Shifts In Power

Elaine Supkis

...Very, very soon, China will be the world's #1 oil buyer and shortly after this, the yuan will suddenly displace the dollar as the currency which determines the value of oil deals. Then, the yuan/dollar peg will vanish. And we better prepare for this day: it is INEVITABLE. We will suddenly find out where all those many trillions of US dollars are hidden in various foreign FOREX accounts and then hyperinflation will rage...for the US dollar, not the Chinese yuan...

Culture; imbalances; Life News; Power; World Trade Cause Tectonic Shifts.

Ambrose EvansPritchard Finance and business comments Thu 2009-10-08 17:07 EDT

China calls time on dollar hegemony

Ambrose Evans-Pritchard

You can date the end of dollar hegemony from China's decision last month to sell its first batch of sovereign bonds in Chinese yuan to foreigners. Beijing does not need to raise money abroad since it has $2 trillion (£1.26 trillion) in reserves. The sole purpose is to prepare the way for the emergence of the yuan as a full-fledged global currency. [dollar losing reserve status]

Ambrose EvansPritchard Finance; Business Comment; China calls time; dollar hegemony.

Tue 2009-10-06 21:12 EDT

The demise of the dollar

Robert Fisk

In the most profound financial change in recent Middle East history, Gulf Arabs are planning -- along with China, Russia, Japan and France -- to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar...Sun Bigan, China's former special envoy to the Middle East, has warned there is a risk of deepening divisions between China and the US over influence and oil in the Middle East. "Bilateral quarrels and clashes are unavoidable," he told the Asia and Africa Review. "We cannot lower vigilance against hostility in the Middle East over energy interests and security."...

demise; Dollar.

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