China’s yuan will become the world’s reserve currency sooner than most people expected, says billionaire investor Ray Dalio.
The US dollar is currently the world’s reserve currency, but billionaire hedge fund manager Dalio said the yuan’s role could increase dramatically in the coming years.
Dalio, founder of the world’s largest hedge fund Bridgewater Associates, said more global trade and financial transactions could be denominated in yuan in the coming years. This will help the Chinese currency become more widely used internationally, he told CNBC Asia Management Christine Tan.
Here are investors̵7; opinions on why the RMB is more attractive. And how can the digital form of the yuan be a worthwhile investment alternative?