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RE: Will the US Dollar Remain King, or Will the YUAN Topple it?
I think about this a lot.
My way of thinking about it, the Chinese need to be a lot more transparent with their finances, with their government, and their trade practices, before anybody will sustainably hold their currency or their debt.
Or, they need to win the next World War, and no one will really have a choice to use their currency…plus have a much larger economy and trade with everyone else…compared to the US.
Good post @gbenga.
One Shortfall china has is that, it is a communist nation. This makes it very shady because the supreme leader would do anything to remain in power, thereby not making it transparent.
I agree with that...communist nations have a poor track record of being transparent.