China Looks for Alternatives to the U.S. Dollar

I'm going a little wonky on you, but bear with me. You've probably heard a lot about how China manipulates its currency to stay competitive with the dollar. Well, what is China's point of view? In a way, the Chinese are frustrated that they don't have an alternative. So they are trying to create one. You can read about some of those efforts here.

Another way to create an alternative is to use the International Monetary Fund. Economist Eswar Prasad explains how that would work:

Source: http://www.pbs.org/nbr/blog/2011/01/gersh_-_china_yuan_trading_imf_eswar_prasad.html

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