Write a short essay explaining your point of view on the following topic.
Do you believe that yuan will soon substitute dollar and become the world’s reserve currency?
According to the CNBC report, the dollar is the major reserve currency for now and the yuan is not even among the next top-4 currencies that include the euro, yen, pound and Swiss franc. One of the yuan's problems is the lack of transparency: the main factor that makes countries choose the dollar as reserve currency is stability, the liberalization of yuan may help but at the moment it's highly controlled by China.
Some experts say that Chinese middle class is going to become larger than American middle class. The problem is that many rich middle class Chinese will likely invest in more transparent economy like the US and the fact that most of Chinese middle class is situated on the very few rich cities while the American one is spread all over the country and creates economic activities
Показать всеin many places strengthening the whole county's economy. Скрыть
за 10 минут
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