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The Yuan Part 3

As noted recently in my article "The Evolution of Yuan Policy," China has been actively seeking to replace the dollar with the yuan as the reserve currency of the world. Recently, another development occurred concerning China's increasingly open policies surrounding the yuan. According to Reuters and Japanese Finance Minister Jun Azumi, Japan and China will start direct yuan-yen trade in the Shanghai and Tokyo markets starting June 1, skipping the U.S. dollar as an interim currency.