Business & Economy
‘No way’ the yuan challenges the U.S. dollar—though the yen and the pound may have more to fear, says Standard Chartered’s China CEO
Despite its gains in global trade, the yuan isn’t going to replace the U.S. dollar in global reserve holdings any time soon, Standard Chartered China CEO Jean Lu argued on Wednesday, even as Beijing tries to encourage greater use of the…
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Standard Chartered China CEO Jean Lu said the yuan will not replace the U.S. dollar in global reserve holdings anytime soon. She made the remark during a media roundtable in Singapore. Beijing is still working to encourage greater use of the Chinese currency.
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