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Euro instability bolsters RMB's claim for reserve status

Bill Yelverton
The renminbi is engaged in the first of three developmental stages to secure ascent onto the global stage. Providing RMB products and services is now key for private banks, finds Scorpio Partnership.
Euro instability bolsters RMB's claim for reserve status

In the 5th century BC, the world’s reserve currency was the Greek drachma. That currency has disappeared – at least for the time being – but while transition to a new world reserve currency can take generations, it can appear to happen relatively quickly when the end-game arrives. 

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