By SIMON CONSTABLE
Warnings that the Chinese yuan will oust the greenback as the world's primary reserve currency are premature at best. Absurdly premature, in fact.
And that's a good thing for Americans. Having the dollar as king of currencies means borrowing costs from banks like JPMorgan Chase are lower than they would otherwise be. Likewise, imported goods in stores like Macy's, are cheaper. The good news is that situation isn't changing anytime soon.
It isn't so much that the dollar is a Goliath to the yuan as David as that the biblical fight between a giant and a young man looks fairly matched when you start comparing the two currencies. Read more here.
It isn't so much that the dollar is a Goliath to the yuan as David as that the biblical fight between a giant and a young man looks fairly matched when you start comparing the two currencies. Read more here.
Photo by Sahand Hoseini on Unsplash
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