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IPFS News Link • China

China Gaining Western Allies as Development Bank Partners: "A Blow to U.S. Efforts"

• shtfplan.com

China's renminbi is positioning for major global exchange; the BRICS development bank is taking off, to the chagrin of the U.S. axis of global finance; and the IMF is talking with China about the likelihood of including the yuan in the "basket of currencies" that make up SDRs, or Special Drawing Rights that already includes the dollar, the pound, the euro and the yen:

China is pushing for the International Monetary Fund to endorse the Chinese yuan as a global reserve currency alongside the dollar and euro.

A senior Chinese central bank official said Thursday that the country is "actively communicating" with the IMF on the possibility of including the yuan, or RMB, in the basket of the Special Drawing Rights (SDRs).

Now, American leadership is silently watching Anglo partners – and close establishment allies in the post-war world – join ranks with China on its emerging development bank.


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