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YUAN ON THE WAY TO A WORLD CURRENCY
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YUAN ON THE WAY TO A WORLD CURRENCY
Annotation
PII
S0321-50750000617-4-1
Publication type
Article
Status
Published
Authors
V.P. Andreev 
Edition
Issue 11
Pages
27-30
Abstract
The financial and economic crisis of 2008-2009, accompanied by instability of the world’s leading currencies - the U.S. dollar and the euro, significantly accelerated the awareness of the international community of the need to reform the international monetary system and to increase the number of reserve currencies used in international payments. The BRICS’s countries, particularly Russia and China, are playing the most active role in promoting and implementing this ideas. The article analyzes the measures taking by China to turn the yuan into an international currency and to increase its role in international payments.The author comes to the conclusion that for Russian companies and enterprises which have counterparts in China, Hong Kong and Macao, a chance to use yuan for settling with their foreign trade partners creates good conditions for a more effective management of the business and its continued growth.
Keywords
China, USA, world currency, international trade
Date of publication
01.11.2012
Number of purchasers
1
Views
1136
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0.0 (0 votes)
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References



Additional sources and materials

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