It was a Memorandum of Understanding signed by representatives of the Singapore Exchange and Hong Kong Exchange. Their aim-- to combine their forces in rolling out more financial products denominated in Chinese renminbi.


We'll soon see more financial products-- oil, gold, Fortune 500 corporate bonds, etc. denominated in renminbi and traded in Asia. And as trade in these renminbi products grows, the dollar will be closer and closer to its reckoning day.

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