What Will Happen To You (if) The Dollar Collapses?

[JohnnyPlant]

Barter, I'm good rich

 

[RamRoddoc]

Facts and Figures: Chinese yuan's global march, a year after SDR entry

http://www.chinadaily.com.cn/china/19thcpcnationalcongress/2017-10/09/content_33021940.htm

China is not our friend either...

Over the past year, multi-pronged efforts have encouraged global use of the yuan. Here are some of the milestones of the yuan's progress toward internationalization.

-- Yuan trade accounted for 1.94 percent of all transactions made through the Society for Worldwide Interbank Financial Telecommunication (SWIFT) in August, the fifth most-traded currency.

-- Following the launch of the Shanghai-Hong Kong stock link in 2014, the Shenzhen-Hong Kong stock connect started trading in December 2016, gradually internationalizing the capital market.

-- A Bond Connect between the Chinese mainland and Hong Kong began this July, allowing investors from both sides to trade bonds on each other's interbank markets. Foreign institutions increased their holdings of yuan-denominated bonds by a record 82.6 billion yuan ($12.4 billion) in August.

-- Global equity indexes provider MSCI announced in June this year that it will include China A-shares in the MSCI Emerging Markets (EM) Index and the MSCI ACWI (All Country World Index) Index, from June 2018.

-- In May this year, a change was made in the way the yuan-US dollar central parity rate was calculated, allowing dealers to incorporate a "counter cyclical factor" into the mechanism. The adjustment endeavors to keep exchange rates stable at a time when global financial markets remain beset by instability.

-- Outward-looking strategies including the Belt and Road Initiative are expected to increase the use of the RMB for project funding.

 

[Horsehat]

Facts and Figures: Chinese yuan's global march, a year after SDR entry

http://www.chinadaily.com.cn/china/19thcpcnationalcongress/2017-10/09/content_33021940.htm

China is not our friend either...

Good post. The acceptance of the yuan is starting as a trickle but will soon become a torrent. Eroding the already tenuous hold the dollar and to a much less degree the Euro have on currency markets, especially for petroleum purchases. I love my country but fear we are set up for failure over the next several decades.