By JC Collins
Much of what has been happening throughout the year will continue throughout the winter. The global institutions and organizations will further progress on the path towards the multilateral financial system. The patterns have been relatively easy to discern and discover, with a similar pattern continuing into the spring.
It is interesting that all G20 countries except for the United States are facilitating the process of internationalizing the Chinese renminbi. This process involves increasing currency swap arrangements and trading hubs. The news over the last year has been full of such stories and one is hard press not to fine dozens of stories with the most basic of searches.
Excluding the reluctance of the US for a moment, it is reasonable to assume that the G20 countries are doing everything they can to help internationalize the Chinese currency for the purpose of preparing it for inclusion into the SDR basket composition when…
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