Australian reporting that the land down under is set to say goodbye to the world's "reserve currency" in its trade dealings with the world's biggest marginal economic power, China, and will enable the direct convertibility of the Australian dollar into Chinese yuan, without US Dollar intermediation,
in the process "slashing costs for thousands of business" and also
confirming speculation that China is fully intent on, little by little,
chipping away at the dollar's reserve currency status until one day it
no longer is.
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