Yuan hailed as the world reserve currency

Its supporters excitedly describe it as rise of the "redback" - red for communist China as opposed to the greenback of the US. Now two distinguished academics have joined a chorus of bankers anxious to share in the lucrative business opportunities they see in the internationalisation of the yuan to challenge the US dollar as the global currency of choice.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1076500/yuan-hailed-world-reserve-currency