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Saturday, January 28, 2012

Yuan way to new monetary order
China is forging ahead in laying the groundwork to internationalise the yuan via bilateral arrangements with foreign companies, nations & financial centers.
The yuan is inevitably becoming a reserve currency alongside the now discredited US dollar and the euro." Lin-See Yan

World Bank
“World economy has entered a very difficult phase characterised by significant downside risks and fragility and as a result, forecasts have been significantly downgraded. However, even achieving these much weaker out turns is very uncertain Overall, global economic conditions are fragile.”

“The global recovery is threatened by intensifying strains in the euro area and fragilities elsewhere. China, India, South Africa and Brazil have entered a slowing phase."

Europe heading towards recession and sluggish rich demand.

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