• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 20 hours Solving The Space Problem For America’s Solar Industry
  • 8 hours Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 5 hours How Far Have We Really Gotten With Alternative Energy
  • 1 day Investment in renewables tanking
  • 5 days If hydrogen is the answer, you're asking the wrong question
  • 6 days "Mexico Plans to Become an Export Hub With US-Drilled Natural Gas" - Bloomberg - (See image)
Saudi Arabia’s Unsuccessful Attempt To Boost Oil Prices

Saudi Arabia’s Unsuccessful Attempt To Boost Oil Prices

Saudi Arabia’s decision to cut…

The Battle To Decarbonize The Aviation Industry

The Battle To Decarbonize The Aviation Industry

From banning short-haul flights to…

Will the Chinese Yuan Replace the US Dollar as the Global Reserve Currency?

Once again we are seeing articles and research papers stating the Chinese renminbi (yuan) is about to replace the dollar as the global reserve currency.

Here is a working paper by Arvind Subramanian and Martin Kessler at the Peterson Institute of International Economics stating The Renminbi Bloc is Here: Asia Down, Rest of the World to Go?.

A country’s rise to economic dominance tends to be accompanied by its currency becoming a reference point, with other currencies tracking it implicitly or explicitly. For a sample comprising emerging market economies, we show that in the last two years, the renminbi (RMB) has increasingly become a reference currency which we define as one which exhibits a high degree of co-movement (CMC) with other currencies. In East Asia, there is already a RMB bloc, because the RMB has become the dominant reference currency, eclipsing the dollar, which is a historic development.

Click here to read the full article.



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News