China realized that the yuan urgently needed to be”internationalized” since the confrontation with the United States has been growing lately. The country will be able to do it just with the help of other nations. Does anyone want to assist China?
The confrontation between the United States and China raises US President Donald Trump, if re-elected, will believe China’s steps in the international arena the largest foreign policy challenge for Washington, US Secretary of State Michael Pompeo stated on Wednesday at a video conference.The confrontation between the world’s two largest markets started in the form of trade wars. Last week, Trump signed an executive order ending Hong Kong’s special status in reaction to Beijing’s introduction of the federal security law of the city. Hong Kong is consequently losing the standing of a money”window into the world” for Beijing, since Washington’s latest move supplies for the imposition of financial sanctions on Chinese banks and officials which do business with them.According into the South China Morning Post, Washington’s decision may jeopardize Beijing’s efforts to convert the yuan in an international currency. Continue reading

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