Could China's Currency Be The New World Reserve? | Economics Explained
- Author
- Economics Explained
- Published
- Tue 16 Aug 2022
- Episode Link
- None
Since the end of World War 2 the US dollar has been world reserve currency, this means international transactions are overwhelmingly done in US dollars. This gives the US some key economic advantages. Naturally China wants to make its currency the world reserve currency, and as the second largest economy it makes some sense.
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