China has cut deals with several nations, including Canada, and the Chinese yuan seems to be slowly replacing the US dollar as the world currency. The renminbi literally means “people’s currency”.
On the same note, London is seizing on China’s yuan push as well, welcoming the direct trading partnership. This saves money for the UK obviously.
Does this signify a decline of the dollar as the world’s reserve currency?
Chinese currency poses a high risk for the dollar, even if China’s economy is slowing down. Whether the financial analysts want to admit it or not, trade with the dollar is not as significant as it once was. A new currency war is coming.
Many analysts think that gold is on the rise. It’s probably just a matter of when.
