by Pepe Escobar for RT
The yuan is about to enter the IMF’s basket of reserve currencies this coming Saturday – alongside the US dollar, pound, euro and yen. This is no less than a geoeconomic earthquake.
Not only does this represent yet another step in China’s irresistible path towards economic primacy; the Chinese currency’s inclusion in the Special Drawing Rights (SDR) basket will also lead central banks and hyper-wealthy funds – especially from the US – to increasingly buy more Chinese assets.
At the first US presidential debate, Donald Trump took no prisoners, criticizing China’s currency manipulation. This is what he said: