Why the Chinese yuan won't be the world's reserve currency

Section:

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...



ADVERTISEMENT

USAGold: Coins and bullion since 1973


USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.



Join GATA here:

International Metal Writers Conference
Sponsored by Cambridge House
Sunday-Monday, May 28-29, 2017
Vancouver Convention Centre, East Building
Canada Place
Vancouver, British Columbia, Canada
http://cambridgehouse.com/event/68/international-metal-writers-conferenc...

GATA Reception at the International Metal Writers Conference
5-8 p.m. Monday, May 29, 2017
Lions Pub
888 West Cordova St.
Vancouver, British Columbia, Canada

New Orleans Investment Conference
Wednesday-Saturday, October 25-28, 2017
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://neworleansconference.com/

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16