IMF Approves China's Yuan as Reserve Currency
Strategic Trends Alert: The IMF has just approved China's Yuan for inclusion in the Special Drawing Rights (SDR) basket of currencies thereby elevating it to the status of "Reserve Currency". The Chinese Yuan joins The US Dollar, Bristish Pound, Japanese Yen and the EU's Euro as among the world's reserve currency. This landmark event further solidifies China's status as a world power as more and more countries around the world use the Yuan for international trade. This Yuan's ascent comes at a time that the Dollar is in danger of collapse and geo-political tensions between the U.S. and Russia and China are at an all-time high.
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