China focus: BNY Mellon says RMB’s role in trade to increase

A. Richard Brown, head of BNY Mellon treasury services for Asia-Pacific, says trade banks will need to invest to benefit from potential new renminbi trade settlement.
Richard Brown, BNY Mellon
Richard Brown, BNY Mellon

What is your economic outlook for China in 2011, bearing in mind talk of it being a bubble economy

Data reported this week shows that China has overtaken Japan as the world’s second largest economy, a long-anticipated event that underlines China’s growing global influence. At its current rate of growth, analysts see China replacing the US as the world's top economy in about a decade. This news, whilst not unexpected given the growth seen by China for many years, has received a relatively muted welcome from some in China who are concerned about the fragility of the property market and rising inflation. There is certainly talk of a bubble, especially...

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