currency tagged posts

Ni Hao Renminbi, Zaijian US Dollar

Interesting article in the NY Times about the rise of Chinese economy and the possibility of the renminbi becoming the world’s reserve currency. My advice to China? Tie your currency to a physical asset such as gold, and you’ll have a slam dunk.

“Sooner than we think, the dollar may be challenged by other currencies, most likely the Chinese renminbi. This would have serious costs for America, as our ability to finance our budget and trade deficits cheaply would disappear.”

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