The arithmetic of money is incorruptible: when it comes to international settlement systems, the pricing of commodities and energy, and access to the credit system, the U.S. dollar still reigns unchallenged. Eighty-nine percent of all foreign exchange transactions are conducted in greenbacks — central banks, commercial banks, and other capital pools hold roughly 57 percent of global currency reserves in U.S. dollars.
Clash of the Money Giants: China Lays the Groundwork to Rival the Dollar
China builds a dollar killer — with one fatal flaw.
