Asian Financial system- will be larger then US and Europe combined by 2030!
ANZ Bank says Asia's financial system will be bigger than those of the U.S. and Europe combined by 2030, thanks largely to China. The bank’s chief executive, Mike Smith, tells the WSJ's Enda Curran about the trend and the yuan’s emergence as a reserve currency.
Too obvious the largest market is in the east and they show NO interest to trade each other based on USD anymore. So they have settled -four years ago- their business and banking relationships using their own currencies.
To be accepted -the yuan- as a reserve currency needs more time and better distribution.
China "exporting" their yuan through credits and isn't enough in this way.