Wednesday, September 28, 2011
Yuan for the money?
My latest read of the Economist had a particularly disturbing but compelling argument that it is only a matter of time before the Yuan will be the Worlds reserve currency. The article describes it as an overdue change, although I get the impression that it is not desirable, but inevitable and the alternatives eventually being virtually disastrous. I don't like it, but I realize now that it will probably happen, maybe before 2020. My preference is of course the Aussie dollar, but the chances are quite remote.