{"id":4616,"date":"2012-05-30T13:26:03","date_gmt":"2012-05-30T13:26:03","guid":{"rendered":"http:\/\/www.generalknowledgetoday.com\/?p=4616"},"modified":"2012-05-30T13:26:03","modified_gmt":"2012-05-30T13:26:03","slug":"world-economic-news-chinas-currency-yuan-goes-global","status":"publish","type":"post","link":"https:\/\/generalknowledgetoday.com\/?p=4616","title":{"rendered":"World Economic News-China&#8217;s currency Yuan goes global"},"content":{"rendered":"<h2>CHINEESE CURRENCY YUAN GOES GLOBAL<\/h2>\n<p>As <em><\/em>Dollar and Euro falls in World Currency Market Yuan is emerging\u00a0 as the\u00a0 new world currency .<\/p>\n<p>All signs point to the Chinese yuan emerging as a second world currency after the US dollar. A key step in this development was taken in late December when China and Japan agreed to conduct future bilateral trade directly in the Chinese currency.<\/p>\n<h2>\u00a0Major milestones<\/h2>\n<ul>\n<li>Reforms began in 2004 when Hong Kong residents were allowed to open renminbi bank and credit card accounts<\/li>\n<li>In 2009, China launched a pilot scheme allowing yuan to be used to pay for imports and exports<\/li>\n<li>In 2010, more restrictions were lifted, allowing any company in any country to settle trade transactions with Chinese firms in renminbi<\/li>\n<li>Another key step has been the development of the offshore yuan debt market or dim sum bond market in Hong Kong<\/li>\n<li>Multinationals like McDonalds, Tesco and HSBC have issued yuan debt<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>CHINEESE CURRENCY YUAN GOES GLOBAL As Dollar and Euro falls in World Currency Market Yuan is emerging\u00a0 as the\u00a0 new world currency . All signs point to the Chinese yuan &hellip; <a href=\"https:\/\/generalknowledgetoday.com\/?p=4616\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[255],"tags":[1724,4307,4308,4309,4310,4311],"class_list":["post-4616","post","type-post","status-publish","format-standard","hentry","category-business","tag-business","tag-china-buying-iran-oil-with-yuan","tag-chinas-currency-yuan","tag-hsbc-to-sell-yuan-bond-in-london","tag-more-chinese-banks-to-invest-in-us","tag-yuan","entry"],"_links":{"self":[{"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=\/wp\/v2\/posts\/4616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4616"}],"version-history":[{"count":0,"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=\/wp\/v2\/posts\/4616\/revisions"}],"wp:attachment":[{"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}