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Showing posts from June, 2016

Enter the Dragon - Chinese Renminbi joining the basket of currencies and its impact on global online selling.

Enter the Dragon - Yes, the Chinese Renminbi will be entering into the International Monetary Fund Basket of Currencies by October 2016. Cambridge Business dictionary gives the meaning of basket of currencies as "A group of different currencies that used by some countries to calculate the value of their own currency." 
China, -according to Economist Adam Smith- "had long been one of the richest, that is, one of the most fertile, best cultivated, most industrious, most prosperous and most urbanized countries in world."
Modern day economists say that in the world of finance, the 19 the century has been the British Century, 20th Century has been the American Century and the 21st Century will be the Chinese Century. As predicted by the economic peers, it will be Chinese Century. (Read - you can also be a winning seller)
The Chinese economy which has been stagnated from the later part of 16th century after its 1978 economic reforms has started galloping towards an unpreceden…