Chinese leader Xi Jinping has called for the Chinese yuan to become a global reserve currency, perhaps capitalizing on the dollar’s decline over the past year.
Over the weekend, the ruling Communist Party quoted Xi as saying Beijing needed to build a “powerful currency” that could be “widely used in international trade, investment and foreign exchange markets, and attain reserve currency status.”
Recommended Stories
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.