The Rise of The Redback
It’s inevitable. The Chinese currency – the renminbi (or yuan) – is bound for greater things. And so it is. Even without the global economic recession and weakening US dollar, the RMB was destined for a larger role on the world stage – simply by force of economic reality. China could very well outstrip Japan as the second largest economy in the world in 2010 – and no country with that sort of economic clout can keep its currency ‘local’ for long.
This article illustrates how things are moving faster than anticipated – and how the RMB could be forced to “internationalise” ahead of schedule.
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Categories: Economy
Also make all Banks into Partnership Not-for-Profit Companies – otherwise known as a Mutual Bank.
A Mutual Bank does not Pay Big Bonuses. Also the Bonus is on getting loans back, noit selling credit.