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by SCAQTony
2687 days ago
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The apparent expectation that China will eventually supplant the USA as an economic power has a long way to go. One obstacle is will democracies want to settle their trades in the currency of a de facto dictatorship? Ostensibly, not yet. According to SWIFT, when looking at domestic and cross-border payments the RMB share as an international payments currency is 1.61% percent. The activity share is lower, (0.98%) if looking at cross-border payments only. The Yen is used almost four times more. file:///Users/tonyaustin/Downloads/swift_rmb_tracker_special_edition_january2018.pdf |
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