{"id":6665,"date":"2019-11-19T10:18:18","date_gmt":"2019-11-19T07:18:18","guid":{"rendered":"https:\/\/africasustainabilitymatters.com\/?p=6665"},"modified":"2026-01-11T05:30:41","modified_gmt":"2026-01-11T05:30:41","slug":"why-africa-needs-to-adopt-china-yuan-as-reserve-cash","status":"publish","type":"post","link":"https:\/\/rayscohosting.best\/ASM\/2019\/11\/19\/why-africa-needs-to-adopt-china-yuan-as-reserve-cash\/","title":{"rendered":"Why Africa Needs To Adopt China Yuan As Reserve Cash"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>By Benard\nAyieko<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is\nwithout doubt that China is an emerging superpower. China\u2019s rising political\nand economic power is evident in all aspects of the global economy. It\u2019s\nplaying a critical role in shaping the world\u2019s development agenda.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This\nis manifested in China\u2019s own agenda in G20, the International Monetary Fund\n(IMF) and the monetary and financial system, international trade and investment\npolicies including those policies aimed at internationalisation of the Chinese\nyuan \u2014 renminbi \u2014 its official currency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Previously\nrated the second largest economy in the world by the Bretton Woods institutions,\nthe Chinese economy is currently surging to the apex of the world economy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The\nChinese growing influence and the increase in Sino-African relations has\nbrought to the fore a debate on the African countries\u2019 need to adopt the\nrenminbi as a reserve currency \u2013 a currency that a country holds in significant\nquantities as part of their foreign exchange reserves for use in international\ntransactions and investments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">China has made a very conscious and well-thought-through choice. How? Two years ago \u2014 just seven months after being re-elected into office as President \u2014 Xi Jinping quipped, \u201cChina must take center stage in the world through promoting globalization, boosting foreign trade, developing advanced technologies and \u2018internationalizing\u2019 the renminbi.\u201d\u2026<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.businessdailyafrica.com\/analysis\/ideas\/Why-Africa-needs-to-adopt-China-yuan\/4259414-5353606-12cl8d2\/index.html\">Read more&gt;&gt;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Benard Ayieko It is without doubt that China is an emerging superpower. China\u2019s rising political and economic power is evident in all aspects of the global economy. It\u2019s playing&hellip;<\/p>\n","protected":false},"author":3,"featured_media":6666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","pagelayer_contact_templates":[],"_pagelayer_content":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[101],"tags":[],"class_list":["post-6665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news"],"_links":{"self":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/6665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/comments?post=6665"}],"version-history":[{"count":0,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/6665\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media\/6666"}],"wp:attachment":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media?parent=6665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/categories?post=6665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/tags?post=6665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}