currency Tag

After 5 years of negotiations, China was included in the IMF, effective this weekend, November 6, 2016. This article covers the Special Drawing Rights (SDR) and what China needs to do in order to remain a member in good standing....

IMF Special Drawing Rights The 2015 IMF Meeting is currently underway in Lima, Peru. There was much anticipation regarding an announcement slated for October 20th regarding the IMF SDRs & China. China would like to join the currencies which make up the IMF’s Special Drawing Rights (SDR).  The IMF...

What is Fiat Currency? Definition: fi·at [fee-aht, -at; fahy-uh t, -at] noun: fiat; plural: fiats A formal authorization or proposition; a decree. "The King ruled by fiat”, “A political union imposed through imperial fiat”   An arbitrary order. “By royal fiat” Fiat currency defined: Fiat currency is legal tender, not backed by collateral...

By January 2015, China overtakes the US as the world’s largest economy, with China producing $17.6 trillion versus the US producing $17.4 trillion. Compare this to 2004 when China produced 1/3 of the United States. Financial Times estimates China accounts for 16.5% of the global economy,...