China's long battle to get the renminbi (RMB) included in
the IMF's reserve currency basket has been well documented,
right up to the point it achieved that goal on November 30.
There is little doubt that the move will help pave the way for
wider use of RMB globally.
Just a few days before, the China Europe International
Exchange (CEINEX), a new marketplace for trading offshore
RMB-linked products, launched in Frankfurt.
These two events are no coincidence: CEINEX is one of...