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AverageJoe

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03/09/17

00:43

Post #: 26956539
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Originally posted by Barneydebear ↑

"I don't understand the implication of this enticement. Secondly, Yuan is not a free and openly traded currency in the world stage besides those aggrieved sovereign countries through US economic sanctions."

Are you serious AJ?? You didn't realise many nations have trade deals with the Yuan and their own currencies now?? I can't speak for the BRICS nations but you seem to have exposed your ignorance AJ if you thunk only sanctioned nations are trading with the Yuan??

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11221953

New Zealand's economic ties with China have been strengthened with a deal to allow direct trading of the New Zealand dollar against the Chinese currency the renminbi or yuan.
The deal, struck relatively swiftly negotiations began in April last year, will reduce costs for exporters and importers by removing the necessity for transactions to be settled in two foreign exchange trades via a third currency - usually the US dollar.
Prime Minister John Key and China's Premier Li Keqiang announced the agreement after meeting at the Great Hall of the People during Key's first day of an official visit to China this evening.
"It's great to have been in Beijing to witness the conclusion of negotiations to launch direct trading of the New Zealand and Chinese currencies, which I kicked off during talks with President Xi on the margins of the Bo'ao Forum in April 2013", Key said.

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SO Oz have trade deals with China/Singapore/SK/Japan and suddenly we are trading with Sing$/Yen/Won/Yuan ignoring USD? What is the makeup of Oz-China trades in Yuan?

The perceived implication is that Yuan is challenging USD as the source of transaction currency I think is more hope than reality. Don't you think Crypto is a better way to go with the 'market' deciding on exchange rate rather than Central bank manipulation?
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