The calls from China to replace the U.S. dollar as the international commerce currency are getting louder. Li Ruogu, the chairman of the Export-Import Bank of China, had this to say:
“It is a feasible plan to reform the present SDR and make it into a real settlement currency, a universally accepted ‘currency basket’ that would replace the dollar at the heart of the monetary system.”
In communist China, government officials — including Mr. Li — don’t shoot off their mouths without government permission.
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