Currency Confidence
Source: Xinhua |
June 18, 2010, Friday
|
Print Edition
Print Edition
THE yuan would develop as an international currency, a former Chinese central bank governor said in Taipei yesterday.
Dai Xianglong, governor of the People's Bank of China from 1995 to 2002, told a seminar in Taipei that the international financial system would be quite different after the global economic crisis.
"The United States dollar will retain its dominance, but in the long term, will have a tendency to depreciate," he said.
Dai said that currencies of emerging economies, including the yuan, will quickly become international currencies.
Dai Xianglong, governor of the People's Bank of China from 1995 to 2002, told a seminar in Taipei that the international financial system would be quite different after the global economic crisis.
"The United States dollar will retain its dominance, but in the long term, will have a tendency to depreciate," he said.
Dai said that currencies of emerging economies, including the yuan, will quickly become international currencies.
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