Bad News For Xi — Why The Chinese Yuan Will Not Replace The U.S. Dollar As The World’s Reserve Currency
China’s strongman Xi Jinping wants his country to replace the U.S. as the world’s superpower. A crucial initiative for achieving this goal is supplanting the global role the U.S. dollar currently plays with the yuan. “De-dollarization” he calls it. To that end, China has been pulling off headline deals, such as its state-owned oil company … Read more