Chinese Yuan Surpasses Euro, Becomes Second Most Used Currency In Trade Finance

Slowly but surely the Chinese currency is catching up to the world’s reserve and moments ago, according to SWIFT, the Yuan just surpassed the Euro in trade (remember trade: that’s how countries once upon a time would generate capital flows in a time when central banks weren’t there to literally print domestic funding needs) finance usage leaving just the USD in front.

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Pointing my finger on the brighter spots. We win, and winning is fun.

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