2012-07-15 — zerohedge.com
China is to promote the yuan's use in settling trade and investment with Africa, and encourage the more active development of Chinese financial institutions across the continent, a senior central bank official said on Friday.
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Li Dongrong, assistant governor of the People's Bank of China, said Africa has the capability of becoming a new hub of international capital flow, and the yuan's use there should be further improved in accordance with rising demand for the currency there
For something of a counterweight to this story, check out China's Catastrophic Deleveraging Has Begun.
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