{"id":8618,"date":"2015-05-30T06:17:19","date_gmt":"2015-05-30T11:17:19","guid":{"rendered":"http:\/\/olduvai.ca\/?p=8618"},"modified":"2015-05-30T06:17:19","modified_gmt":"2015-05-30T11:17:19","slug":"china-nears-global-reserve-status-there-will-be-a-reset-of-the-financial-industry","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=8618","title":{"rendered":"China Nears Global Reserve Status: \u201cThere Will Be a Reset of the Financial Industry\u201d"},"content":{"rendered":"<h3><a href=\"http:\/\/www.shtfplan.com\/headline-news\/with-imf-approval-china-nears-global-reserve-status-there-will-be-a-reset-of-the-financial-industry_05282015\" target=\"_blank\">China Nears Global Reserve Status: \u201cThere Will Be a Reset of the Financial Industry\u201d<\/a><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-4153\" src=\"http:\/\/shtfplan.com\/wp-content\/uploads\/2010\/02\/china_depression_a.jpg\" alt=\"CHINA-ECONOMY-RATE-BANK-FOREX\" width=\"610\" height=\"413\" \/><\/p>\n<p>The world is anticipating a new global reality with huge implications: China\u2019s yuan is poised to get recognized as a global reserve currency.<\/p>\n<p>In a sign of the times, the IMF has essentially rebuffed U.S. claims of currency manipulation, to instead affirm that China\u2019s currency is \u201cno longer undervalued\u201d \u2013 essentially giving its approval for the inner circle what many have described as an incubating world currency.<\/p>\n<blockquote><p><strong>China\u2019s yuan currency, which Washington has long alleged was manipulated, is \u201cno longer undervalued\u201d, the International Monetary Fund said Tuesday.<\/strong><\/p>\n<p>The value of the yuan, also known as the renminbi, has been a source of tension for years, with China\u2019s major trade partners \u2014 led by the United States \u2014 accusing Beijing of keeping it artificially low to give Chinese exporters an unfair competitive advantage, which Beijing denied.<\/p>\n<p>\u201cOur assessment now is that the substantial real effective appreciation over the past year has brought the exchange rate to a level that is no longer undervalued,\u201d the IMF said in a statement after a consultation mission to China. (<a href=\"http:\/\/investmentwatchblog.com\/chinas-yuan-currency-no-longer-undervalued-imf-may-become-world-currency-after-imf-approval\/\" target=\"_blank\">source<\/a>)<\/p><\/blockquote>\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/China?src=hash\">#China<\/a>\u2018s\u00a0<a href=\"https:\/\/twitter.com\/hashtag\/yuan?src=hash\">#yuan<\/a>\u00a0may become world currency after\u00a0<a href=\"https:\/\/twitter.com\/hashtag\/IMF?src=hash\">#IMF<\/a>\u00a0\u2018approval\u2019\u00a0<a href=\"http:\/\/t.co\/OyAfKUI1XM\">http:\/\/t.co\/OyAfKUI1XM<\/a><a href=\"http:\/\/t.co\/bArePaPpJe\">pic.twitter.com\/bArePaPpJe<\/a><\/p>\n<p>\u2014 Sputnik (@SputnikInt)\u00a0<a href=\"https:\/\/twitter.com\/SputnikInt\/status\/603541455706181632\">May 27, 2015<\/a><\/p>\n<p>With longstanding U.S. opposition to China\u2019s currency status, the IMF decision has been seen as the biggest hurdle to world reserve status. This news brings China one giant step closer to entry onto the global stage of currencies and new financial norms for Americans, as\u00a0<a href=\"http:\/\/www.shtfplan.com\/headline-news\/one-world-currency-china-actively-communicating-with-imf-to-include-yuan-in-sdr-basket-currency_03132015\" target=\"_blank\">SHTF has long reported<\/a>.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China Nears Global Reserve Status: \u201cThere Will Be a Reset of the Financial Industry\u201d The world is anticipating a new global reality with huge implications: China\u2019s yuan is poised to get recognized as a global reserve currency. In a sign of the times, the IMF has essentially rebuffed U.S. claims of currency manipulation, to instead [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,313,5844,418,434,679,839,865,1031],"class_list":["post-8618","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-financial-industry","tag-global-reserve-currency","tag-imf","tag-international-monetary-fund","tag-reserve-currency","tag-us-dollar","tag-washington","tag-yuan"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8618"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8618\/revisions"}],"predecessor-version":[{"id":8619,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8618\/revisions\/8619"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}