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#1
13-12-2015, 11:40 AM
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China's future as a great power with a great currency just got closer
An honorable member of the Coffee Shop Has Just Posted the Following:
LONDON – The Nobel laureate Robert Mundell once said, “great powers have great currencies.” China, whose government Mundell long advised, seemed to take this notion to heart, prodding the International Monetary Fund for years to add the renminbi to the basket of currencies that determine the value of the IMF’s reserve asset, the Special Drawing Right (SDR). And now the IMF has decided to do just that, in what amounts to a huge vote of confidence in China’s capacity to play a major role in international finance. Read more at https://www.project-syndicate.org/co...AR0zqWvi5Ch.99 Click here to view the whole thread at www.sammyboy.com. 
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