Some Topical Aspects of the Yuan to Become Global Reserve Currency
The article analyzes some aspects of the yuan’s transformation into the world currency. Special attention is paid to renminbi’s role in world trade transactions, to clarifying the prospective of renminbi being added to the central banks reserves portfolios, to analyzing the process of local currency swap agreements ratifications, to scrutinizing the renminbi denominated derivative and spot markets. The research indicates the upturn of the Chinese currency’s role in the world economy and global finances.