“It’s no longer in China’s favor to accumulate - TopicsExpress

“It’s no longer in China’s favor to accumulate foreign-exchange reserves,” Bloomberg quoted Yi Gang, a deputy governor at the central bank as saying Tuesday. Decreasing the influence of the dollar and other currencies is a step closer to reaching China’s 2015 goal to “float” its currency and according to the People’s Bank of China will help the everyday Chinese citizen. hangthebankers/usd-is-dead-china-caps-its-dollar-holdings-plans-crude-oil-futures-priced-in-yuan/

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