The yuan is now in third place as a global currency behind the dollar and the Euro. Given the decline of the Euro, this article projects that in 3 years the yuan will surpass the Euro. Right now roughly a fourth of the world’s trade is transacted through the yuan. When you add to this that China is now the number one country in the world in gold reserves and the fact that the US owes China $1.2 trillion, it is not hard to understand why the US is demonizing China.
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