September 12, 2011Renminbi Pushes Dollar Off Global StateArvind Subramanian, Financial Times
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![]() AP Photo Economic turmoil in the US and Europe is helping to accelerate a deeper, long term development. After three centuries of economic dominance, the west is about to be eclipsed by a rising Asian power: China. Not only may the Chinese economy soon be larger than America’s – if measured in purchasing power – but the renminbi could displace the dollar as the premier, reserve currency within the next decade or soon thereafter. TAGGED: Dollar, United States, Renminbi, China RECOMMENDED ARTICLES
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