For *now*. China has been actively working on making the yuan a world reserve cu... | Hacker News

Hacker Newsnew | past | comments | ask | show | jobs | submit

		dtech on March 25, 2023 \| parent \| context \| favorite \| on: Reasons the banking crisis isn’t a repeat of 2008 For now. China has been actively working on making the yuan a world reserve currency [1], including relaxing the controls if it is adventageous. [1] https://finance.yahoo.com/news/putin-strengthening-yuan-role...

refurb on March 25, 2023 [–]

That would require a wholesale change in the way the Chinese government wields it power.

Money flees China now despite the capital controls.

Even the Chinese would rather keep their money in Singapore, Switzerland or the US than at home.

Consider applying for YC's Winter 2026 batch! Applications are open till Nov 10
Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact