By going international, it would allow the Chinese to not be as reliant on the U.S. dollar as it has been. This is important because if the United States economy were to ever collapse again, like it did in 2008, then the global economy wouldn’t suffer so much, because the Chinese economy would not be brought down comparatively as if the Yuan were fixed to the American dollar. Another important reason for the Yuan to become a world currency is that it gives individuals other options around the world as to where to put their money. Having more options allows less dependency on a specific currency. This is huge, because if, for example, both the euro and the U.S. dollar were to quickly be devalued the presence of the Yuan makes it possible to ensure that a global financial crisis will not ensue. Finally, it is important because it would make the market dictate the success of all economies. This would make it to where no country has a competitive advantage such as what China has had though their currency …show more content…
Too many internal pressures such as the ever-increasing Chinese population have made China rely on control to make sure that their economy grows at the same rate for future years. However, with the recent efforts to make the Yuan’s presence international, it looks like the world economy is heading in the right direction. The U.S. and Europe will be happy, because now the Yuan might soon be valued correctly, and China will be happy because they might soon have an important role in the global foreign exchange trading