Source: RT – China leaves US behind as world’s top trader
For the first time in centuries China has overtaken the US as the world’s biggest trading nation, with total trade standing at $4.16 trillion in 2013.
The yuan has replaced the euro to become the second most widely used currency in global trade in 2013, according to the SWIFT network responsible for international financial transactions.
Source: Bloomberg – PBOC Will ‘Basically’ End Normal Yuan Intervention: Zhou
China’s central bank will “basically” end normal intervention in the currency market and broaden the yuan’s daily trading limit, Governor Zhou Xiaochuan said, without giving a timeframe.