In aspiring to be a renminbi trading hub, Australia has three advantages: major bilateral trade flows with China, a sophisticated financial system desperate to export its expertise to the world, and since 2013, the ability to directly trade Australian dollars for renminbi with a central bank’s currency swap to provide liquidity.
– Vivianne Arnold in Tuesday April 22 print edition of Singapore’s premier business newspaper, The Business Times. The full op-ed is here.
franklinarnold.com 