"So the US must see advantages to itself in agreeing to the Yuan in the basket. One can only speculate on what they might be."
It is a Sino-American conspiracy! By having the IMF confering to the renminbi a global reserve status the People's Bank of China no longer will be needing to foment and financially support the global illegal gold mining industry in its quest to secretely accumulate a minimum of 5,000 tonnes of gold. Some gold bugs posting here know a bit more about this as they have been deciphering the secret messages coming out of the People's Bank of China. To the great delight of the FED this will produce a knokout blow to one of the principal components of the demand for gold
In exchange China will be able to gradually convert its worthless US dollar denominated assets into renminbi via the SDRs which, of course, will be increasinly priced in terms of renminbi at the expense of the euro, the pound and the yen.
