29.05.2016, Strategic Culture Foundation http://www.strategic-culture.org (Russia),
Фонд стратегической культуры http://www.fondsk.ru (Россия)
Many believe that the US dollar and the Chinese
yuan could soon be engaged in a fierce battle for top honors in the world of
international finance.
However, John Williams, the chairman of the
Federal Reserve Bank (FRB) of San Francisco, stated on May 10 that the yuan
could not edge out the dollar as the primary global reserve currency. And I am
inclined to think that this banker is correct.
The transformation of the yuan into an official
reserve currency
Last fall the International Monetary Fund made
a very welcome decision for
Beijing when it added the yuan to what is called the SDR basket (SDR – Special
Drawing Rights, a supranational currency issued by the IMF in limited
quantities). This means that the yuan now has the status of
