China to try using yuan as settlement currency in some foreign deals

[cavanami]

...the beginning of the end for the US Dollar

 

China will use the yuan in transactions with neighboring economies on a trial basis, state media said Thursday, calling it a potential first step to making it an international currency.

 

The government will allow the yuan to be used in settlements between the Pearl and Yangtze river delta regions -- both major industrial areas -- and Hong Kong and Macau, the China Daily reported.

 

Similarly, southwest China's Yunnan province and Guangxi Zhuang region in the south will be permitted to use the yuan in settling trade with members of the Association of Southeast Asian Nations...

[drogon]

Yep, read it too on BBC...

[cavanami]

Plain and simple, the Chinese want to be "King of the Mountain"...and they are on their way to do so!

[drogon]

They still consider themselves as "The country"

(don't know he translation in English for "empire du milieu" -> Empire of the middle of the eart?)

 

Despite Mao they still think of themselves as being the "legitimate rulers of the earth"...

 

And as you say, they are on their way to achieve it -> thanks the stupidty of western nations...

 

Luckily (for us) they still depend on the west for technology and as customers for their exportations

 

China daily also pointed out that if China continues to develop -> there will be a growing dependence on other nations for food-energy...