Chinese yuan could be strong global currency amid weak dollar, euro
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Manila - China's yuan could emerge as a strong internationalcurrency amid weaknesses in the US dollar and the euro, economists said Thursday at an Asian Development Bank meeting in the Philippines.
Iwan Azis, head of the Manila-based bank's Office of Regional Economic Integration, said the Chinese yuan was becoming very important as China's economy grows.
"It is just a matter of time, it's not a matter of yes or no, but a matter of time," he said when asked about the yuan becoming an international currency.
US economist Jeffrey Sachs said the global financial system would benefit from having more than one reserve currency in the system other than the US dollar.//DPA
