Chinese officials have set 2020 as the target date by which Shanghai will be transformed into a first class international financial centre.
This will mean substantially opening Chinese financial markets to foreign investors.
All this is to say that China has plenty to do before the Yuan will rival the US dollar in the future, but the day will come.
Topic: Will the Chinese Yuan supersede the US Dollar in the future? - page 2. (Read 1939 times)
I don't sell the dollar being dethrone anytime soon. China has done great lately,but their bubble is one created out of pathetic wages, exploitation and low quality mass produced products, and this bubble will eventually burst. Nothing last forever on that state.
Is China's currency going to become the world reserve currency within a few years? 
Its going to become the #1 currency for sure but perhaps the cultural differences between east and west will hold off china a little. If you look at the exchange rate from the last 10 years though the trend is pretty obvious:
https://i.imgur.com/XXmczrZ.jpg
Can you see it dropping to 5 anytime soon?
i dont think so, the truth is that they are doing things pretty good, even better than other countrys like the export, but dont forget that you are asking about US, those guys who are able to find an enemy even if they have a current one... 
Is China's currency going to become the world reserve currency within a few years?
Its going to become the #1 currency for sure but perhaps the cultural differences between east and west will hold off china a little. If you look at the exchange rate from the last 10 years though the trend is pretty obvious:
Not in a few years. I'm expecting a big change when the oil and all the fossil fuels run out. In 30/50 years. All that trade right now is in US dollars. When it's over, the global importance of the American currency will shrink dramatically.
I agree.
China has a vested interest in the dollar being the international currency. They are one of the biggest buyers of usa government bonds so they want a strong dollar not a weak one. If this did happen it would be a slow process taking many years. I doubt that it would be a fast change. Even if the big players want to change the international currency, they dont want to break the system to do it.
Not in a few years. I'm expecting a big change when the oil and all the fossil fuels run out. In 30/50 years. All that trade right now is in US dollars. When it's over, the global importance of the American currency will shrink dramatically.
The day that happens is the day that American global control ends. It will be very interesting to see what happens over the next 10-20 years.
It is not such easy that American global control ends. U.S will not make it happen that is why they called Super Power. Well, However if any break in U.S Allies will pave the way to rise and defend against the United States of America. If Asian countries get united together and hold strongly in their business and borders will make them totally independent of U.S global controls. The Question here is " Who will cat the Bell " ?
The day that happens is the day that American global control ends. It will be very interesting to see what happens over the next 10-20 years.
If there are any currency that will supersede US Dollar, I think US will try hardly to prevent that. They can make the country economy go down with their ways. And I'm not sure Yuan will supersede US Dollar, since there are other better and more stable currency like GBP and EUR.
Many of the superpowers are fed up with the American manipulation of the USD, and are taking steps to free themselves from the dollar bondage. For example, Russia recently decided to dump its American treasury bond holdings and took steps to conduct the Sino-Russian bilateral trade in CNY. A number of countries have entered in to currency swap agreements with China. All this points to a bright future for the CNY.
But but but... they need to get rid of currency controls, and they need to run a trade deficit for a couple of decennia. And they need to avoid an implosion in the mean time. Then we can talk.
Is China's currency going to become the world reserve currency within a few years?
"As China's economic influence grows, the global importance of the renminbi will become magnified. Indeed, while for decades it has been a 'greenback world', dominated by the U.S. dollar as the world's primary reserve currency, many think a 'redback world', in which the renminbi enjoys premier status, is increasingly a possibility," the report accompanying the survey said.
Is China's currency going to become the world reserve currency within a few years?
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