Seeking Alpha

On the eve of his visit to DC, Chinese President Hu Jintao calls the monetary system centered...

On the eve of his visit to DC, Chinese President Hu Jintao calls the monetary system centered around the dollar a "product of the past," but says making the yuan a true international currency "will be a fairly long process." Continuing concern over monetary tightening sends shares sharply lower. Shanghai -3.03%
Comments (1)
  • If not the US Dollar then what? A "long process" in Chinese terms could be centuries. The Chinese take a very long term planning view. Is he implying a return to gold or some other currency?
    17 Jan 2011, 08:03 AM Reply Like
DJIA (DIA) S&P 500 (SPY)