China easing capital controls to internationalize Yuan

The SDR, an accounting unit usually deployed in bailout packages, would deliver few direct benefits to China’s 1.3 billion people. 

ET Article

This is going to defining theme for next decade as far as international finance is concerned.

Given the out sized influence US exerts because of USD being international currency. Recent slowdown notwithstanding, China has the potential for the International Currency:

Though lot needs to be done regarding depth and openness of financial markets.

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