China can challenge the domination of the USD by globalising Yuan, claim by a former British Minister

China can challenge the domination of the USD by globalising Yuan, claim by a former British Minister

London/Beijing: Former British Minister Jim O’Neill claimed that the Chinese currency Yuan had the capacity of becoming the international currency saying, “The position of the US dollar as the global currency is still intact. There is only one legitimate way to change it. A new long term and the genuine currency has to be created […]

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Russia-China announce Yuan-based investment fund, sign deals on local currency, e-commerce, nuclear cooperation, 5G

Russia-China announce Yuan-based investment fund, sign deals on local currency, e-commerce, nuclear cooperation, 5G

Moscow: During Chinese President Xi Jinping’s Russia visit, an important announcement was made on the establishment of an independent fund between Russia and China, based on the Chinese currency Yuan. Although many projects have been taken up between the two countries under bilateral trade and investment, this is the first time a fund based only […]

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China’s Yuan will replace US Dollar, claims the Governor of the Bank of England

China’s Yuan will replace US Dollar, claims the Governor of the Bank of England

London/Beijing/Washington: “As the world re-orders itself, this disconnect between the real and financial is likely to reduce, and in the process, other reserve currencies may emerge. In the first instance, I would expect these will be existing national currencies, such as the renminbi,” said the governor of the Bank of England (BoE), claiming China’s Yuan […]

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East and southern African countries debate accepting Chinese Yuan as reserve currency at the conference in Zimbabwe

East and southern African countries debate accepting Chinese Yuan as reserve currency at the conference in Zimbabwe

Harare: Influence and scope of the Chinese Yuan which was accepted as a global ‘Reserve Currency’ by the International Monetary Fund two years ago, is on the rise. In an economic conference held in Africa on Monday, there were comprehensive discussions about officially accepting Yuan as a Reserve Currency. A few African countries including Angola, […]

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Pakistan introduces use of “Yuan” in its trade transactions

Pakistan introduces use of “Yuan” in its trade transactions

Islamabad: Pakistan has initiated the use of the Chinese currency “Yuan” in its international trade transactions. This was officially announced by the Pakistani central bank “State Bank of Pakistan” and has allowed Pakistani companies and businessmen to use Yuan in their transactions. This decision of Pakistan is considered to be a retaliation to the warning […]

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China restless due to Yuan’s decline, indicative of restriction on foreign investment

China restless due to Yuan’s decline, indicative of restriction on foreign investment

Beijing: The results of recent elections in the United States has begun affecting the Chinese economy and the Chinese Yuan is beginning to decline. Within two weeks following Donald Trump’s victory, the Chinese Yuan is getting extremely devalued. Currently the Yuan has sunk to a eight and half year low against the US dollar. To […]

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China devalues its ‘Yuan’

China devalues its ‘Yuan’

Beijing/Washington, Dt.30 (News agency) – Just as the G-7 summit, held recently in Japan, concluded by proclaiming an end to the currency war, China declared the devaluation of its currency the ‘Yuan’. In the week of the summit itself, the Chief of the U.S. Federal Reserve, Mr. Janet Yellen signalled the hiking of interest rates. […]

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The US to impose more taxes on China, a ‘Currency Manipulator’, proposes US Trade department

The US to impose more taxes on China, a ‘Currency Manipulator’, proposes US Trade department

Washington: The United States has been preparing to corner China on the currency issue, after targeting it through the trade war. The US trade department has proposed the imposition of tax on countries controlling the value of their currencies. The list will include countries like India, Australia, Germany, Switzerland, Japan, South Korea, along with China, […]

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China imposes taxes on US goods worth USD 60 billion; global markets including the United States crash

China imposes taxes on US goods worth USD 60 billion; global markets including the United States crash

Beijing/Washington: China has fuelled the trade war further by imposing taxes on US goods worth $60 billion. Coming close on the heels of the Chinese announcement, global stock market dipped, and it’s currency Yuan hit a four-month low. Reacting ferociously to Chinese taxes, President Donald Trump ranted that he would not let the United States […]

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New Trump threat causes a dip in the Chinese stock market and currency; China claims to not bow to external pressures

New Trump threat causes a dip in the Chinese stock market and currency; China claims to not bow to external pressures

Washington: US President Donald Trump issued a formidable threat that if China does not sign a trade agreement now, it will face dire consequences from the year 2020. Intense repercussions of the threat issued by Trump were felt in China, and the stock markets and currency recorded a massive crash. While the effects of the […]

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