Israel Dumps the Dollar for China’s Renminbi

“Israel’s central bank has made the biggest changes to its allocation of reserves in over a decade, adding the Chinese yuan alongside three other currencies to a stockpile that last year exceeded $200 billion for the first time ever.”

“And so perhaps isn’t just little old me here chipping away at my blog daily that has noticed that China and Russia could be on the verge of effecting meaningful change to the global monetary landscape. It sure seems like Israel is catching on. I expect other countries to follow suit. (from QTR’s Fringe Finance)

Israel Dumps The Dollar For China’s Renminbi | ZeroHedge

Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

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