Discussion: Chinese RMB becomes a reserve currency in the IMF

October 1 is a special day. It's not just the anniversary of the foundation of the People's Republic of China – this year, October 1 also marks a special start for China’s currency, the Renminbi. That's because the currency will be included in the IMF's reserve currency basket. It's a milestone move, and marks the biggest change to the IMF's SDR basket since the inclusion of the euro back in 1999. How will the move affect China, and what does the global economy have to gain? To get a sense of this, we speak with Liu Baocheng from the University of International Business and Economics, Mike Bastin from the University of Southampton, and Nicholas Lardy from the Peterson Institute for International Economics. Subscribe to us on Youtube: https://goo.gl/lP12gA Download for IOS: https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8 Download for Android: https://play.google.com/store/apps/details?id=com.imib.cctv Follow us on: Facebook: https://www.facebook.com/cctvnewschina Twitter: https://twitter.com/CCTVNEWS Google+: https://plus.google.com/+CCTVNEWSbeijing Tumblr: http://cctvnews.tumblr.com/ Weibo: http://weibo.com/cctvnewsbeijing

Comments

1. h
2. So, will this also increase Chinese people's wages in general??
3. The Way Being Prepared For The Kings Of The East.
4. The RMB inclusion into the SDR can also be a Trojan horse for the criminals like the rock heads/Soreass/ rottonchilds.
5. Just look up Jim Willie interviews online. You'll hear a lot.
6. Domestic reforms?!? This guy came up short - it is global reforms and compliances in addition to be BASEL II, III, & IV complaint...BASEL V will come up sometime this fiscal year 2017 as OCT 1st is the global fiscal year for 2017.
   IMF had skipped last year due for global currencies balance sheet of sovereign rates; this has been done every 5 years the last time was 2010...much delay and game play of the US Congress to stall to pass the IMF 2010 Reform Quota Bill as it was quietly passed into the 2017 Spending Bill as a filibuster bill as the final deadline given by the IMF being DEC 15, 2015 or else PLAN B would of bypass the US.
   There is much not being said until the global rollout is completed and key agreements have been agreed upon and all of that will be explained at a later time...fiat system is going bye - bye and a new system is transitioning to an asset back system.
7. FUCK wish I got some dollars to turn into RMB... it's gonna be worth as much as gold in a few months HAHA.