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Ronald McKinnon: “China has become a pillar of the dollar standard”

November 25, 2013 By Beidi Zhang

For the past half-century, the dollar’s status as the de facto unit of international currency has, despite periodic protests from major countries, continued unabated. However, the combination of America’s relative economic decline and the recent political impasse in Washington has pushed China, America’s largest foreign debt holder, to challenge the dollar’s privileged status in world […]

Filed Under: All Articles, Connections, Economy Tagged With: Currency, Dollar, RMB

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