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A Beijing Woods monetary system in the making

As China targets renminbi's entry into SDR, IMF is examining the Chinese currency's much-increased use in trade invoicing.
Tuesday, April 28, 2015 - 05:50

If the renminbi is to become a fully fledged reserve currency, China would need much deeper financial markets, a sounder legal system, stronger banks, more transparent reporting standards and an opening towards democracy - a tall order.

CHINA'S steady encroachment into the heart of global finance forms part of a changing political and economic order that could eventually reshape the international monetary system. With the International Monetary Fund (IMF) and World Bank beset by weak leadership, ham-fisted decisions (not least

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