Quote:While Washington seems obsessed with trying to humiliate China’s President Xi Jinping and make him lose face, sending warships into Chinese territorial waters in the South China Sea just days after Obama’s White House meeting with President XI, and other provocative acts, Britain’s government is taking advantage of the growing cleft between Washington and Beijing. They are cleverly moving to develop a prominent role in what they see as emergence of the Chinese currency, the Renminbi (RMB), as a major global reserve currency. China for its part is taking cautious but firm steps to create that esteemed status for the Renminbi, something which could prepare the way for an exit of China and others from the dollar and from holding US Treasury de
First appeared: http://journal-neo.org/2015/12/14/china-carefully-moving-to-displace-dollar/