Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

4/2/2013 (2 years ago)

Catholic Online (

Who needs armies when you have money?

There's more concern that China could be making a move to displace the dollar as the world's reserve currency. Tuesday, the yuan reached a record high against the dollar, hitting 6.2004 to the dollar.

The Yuan may become the world's dominant currency in the years to come.

The Yuan may become the world's dominant currency in the years to come.


By Catholic Online (NEWS CONSORTIUM)

Catholic Online (

4/2/2013 (2 years ago)

Published in Business & Economics

Keywords: China, economy, growth, numbers, reserve, currency

LOS ANGELES, CA (Catholic Online) - The new record high for the yuan comes as the People's Bank of China continues to take measures to help the yuan appreciate in value. The yuan is expected to rise above 6.2 to the dollar this month.

The Chinese government is believed to be behind the appreciation of the yuan as well as other recent measures that are making the world take notice.

China is already the world's second largest economy, and it has been growing rapidly over the past two decades. The country still has room to expand. Rich in natural resources, China is both tapping its own while seeking out new reserves, particularly in Africa.

At home, China has already pre-built entire cities, which stand empty, waiting to be populated at a later date. The ready-built cities area  testament to the country's wealth and power and stand in contrast to what most people think about China.

Publicly, the government is moving to allow direct exchanges between the Australian dollar and the yuan, which cuts the U.S. dollar out of the exchange. The U.S. dollar is the world's reserve currency, but that distinction might not remain for much longer.

If China can get more countries to enter into direct exchanges, and cut out the dollar altogether, it may position its yuan to become the world's new reserve currency.

The impact of this to American markets would be significant, since the U.S. already trades at a favorable premium with most of the world and makes billions off simply providing the world's reserve currency. Now, China could be positioning itself to seize those profits from the U.S.

China is a large state, bent on world political and financial dominance. Despite its communist trappings, its leadership has slowly come to embrace capitalism, with the caveat that they control the wealth. With a labor pool of over one billion people and land and resources to spare, China is poised to beat America, and much of the free world, at its own game of capitalism.

The sooner traders awaken to this reality and understand that Chinese communism is just for looks, they can take steps to insulate themselves from the inevitable move by the Chinese government to displace the U.S. as the world's dominant economic power.


Pope Francis: end world hunger through 'Prayer and Action'

Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for October 2015
That human trafficking, the modern form of slavery, may be eradicated.
Evangelization: That with a missionary spirit the Christian communities of Asia may announce the Gospel to those who are still awaiting it.


More Business & Economics

Three BILLION barrels of excess oil available now - but is this a good thing? Watch

Image of Inflated inventories and oil wealth has spread globally, from the United States to the developed economies of Europe, and now China, according to the agency.


With the price of gas comfortably lower than $3 a gallon at many gas pumps across the land, consumers are enjoying a price break. The reason behind this windfall is largely because there are now more than three billion barrels of excess oil in the world. This ... continue reading

HARD NEWS HEADED FOR EXTINCTION! Filters turning off certain information imperil journalism Watch

Image of Daily newspapers have gone from nearly 1,800 in 1945 to about 400.


Newspapers, along with print media in general is in rapid decline - while Internet news, groomed and curried for special interest groups is on the rise. The fallout is that hard news, presented objectively is in dire threat of virtual extinction. "Opinion ... continue reading

The 'WAR ON CHRISTMAS' continues as Starbucks' new seasonal cups spark public outrage Watch

Image of Starbucks is the center of a mass controversy when it decided to release plain red cups this holiday season instead of its traditional Christmas and general holiday-themed cups (Rozzieland blogs).


When coffee giant Starbucks released red cups in place of their traditionally holiday-themed cups this winter, Arizona-based evangelist Joshua Feuerstein cried bigotry. LOS ANGELES, CA (Catholic Online) - In a Facebook video rant, Feuerstein wrote, "I think in the age ... continue reading

Pretty much all you could ask for from the month of October - unemployment at five percent, new hires Watch

Image of The 271,000 jump in payroll was surprisingly robust, far better than the Labor Department expected last week.


"It was pretty much everything you could ask for in a jobs report," Michelle Meyer, deputy head of United States economics at Bank of America Merrill Lynch says. Unemployment was at five percent and there were significant job hires for the month of October. ... continue reading

Invest as a Catholic - without selling your soul! Watch

Image of

By Kevin Jones (CNA News)

For Catholics who want to invest in a retirement plan but hesitate for fear of unintentionally supporting causes contradicting their faith, a financial advisor group is now offering a new option. Washington D.C. (CNA) - "We'd like to see every Catholic organization ... continue reading

SOMETHING IS BREWING: Agreement could lead to biggest beer deal - and top five business deals EVER Watch

Image of The prevailing trend among younger beer drinkers is for smaller, more specialized labels from independent breweries. In response, bigger beer brands are struggling to hold on to their market share.


Something big is brewing in the world of brew. AB InBev or Budweiser is offering SABMiller shareholders $67.59 per share. The maker of Miller Lite, Pilsner Urquell and Peroni, this represents a premium of roughly 50 percent over the share price. The agreement, ... continue reading

Overworked Wall Street employees experience seizures, are hospitalized, and have died Watch

Image of John Hughes in Thomas' bedroom (Damon Winter).


Wall Street has always been a very demanding place to work and with recent work-related deaths, it seems that Wall Street must find a way to provide work-life balance to its employees.  NEW YORK CITY, NY (Catholic Online) - Thomas Hughes was a 29-year-old ... continue reading

7 ways to bring your family out of debt Watch

Image of


There are a lot of ways the improper handling of finances can jeopardize you and your family. The cost-of-living continues to get higher yet your income doesn't. How can you make ends meet? LOS ANGELES, CA (Catholic Online) - Fear not! You can regain control of your ... continue reading

3 easy ways to save money and pay off debt Watch

Image of


Work and play, earn and spend -It's the way the economy survives, but what about your survival? If you're having trouble saving money, don't have a dedicated savings account or just don't know how to stop spending, you may have a problem. LOS ANGELES, CA (Catholic ... continue reading

Is the stock market in trouble? Historical market turndowns following papal visits Watch

Image of Papal visits versus the stock market were reviewed.


As Pope Francis visits the United States, historical data of visits from his predecessors to the United States were linked to several market downturns in the US. MUNTINLUPA CITY, PHILIPPINES (Catholic Online) - Pope Francis made his historical visit to the United ... continue reading

All Business & Economics News


Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

the FEED
by Catholic Online

  • St. John Berchmans: Saint of the Day for Thursday, November 26, 2015
  • Daily Readings for Thursday, November 26, 2015
  • Prayer For Courage HD Video
  • UPDATE: Did the U.S. military actually know they were bombing the ...
  • BIGGER THAN ISIS - There's a hidden power behind ISIS and it's so big ...
  • The Miracle Prayer HD Video
  • How to balance compassion with security concerns with influx of ...

Daily Readings

Reading 1, Daniel 5:1-6, 13-14, 16-17, 23-28
1 King Belshazzar gave a great banquet for his noblemen, a thousand of ... Read More

Psalm, Daniel 3:62, 63, 64, 65, 66, 67
62 Bless the Lord, sun and moon, praise and glorify him for ... Read More

Gospel, Luke 21:12-19
12 'But before all this happens, you will be seized and persecuted; you ... Read More

Saint of the Day

Saint of the Day for November 25th, 2015 Image

St. Catherine of Alexandria
November 25: St. Catherine of Alexandria, Virgin and Martyr ... Read More