Word: internationales
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But Beijing's leaders may also see China's own currency, the yuan (also known as the renminbi), as a possible alternative to the dollar. There are indications that China intends to make the yuan a greater factor in international trade and investment, a development that, if successful, would have...
To an extent, a global role for the yuan appears inevitable. How widely a currency is used around the world is usually a function of how important its home country is to the global economy. During the 19th century, when the British Empire reigned supreme, the pound was the top...
Yet some analysts say China is still far from ready to undertake the dramatic reforms necessary to allow the yuan to be a true international player. Making the yuan a freely traded currency would mean losing control over its value and flows of capital in and out of the country...
"It's a historic moment," says Alejandro de Valle, a professor of international law at the University of Cádiz in Spain. "And it meets a deep need." (See pictures of a Galician village.)
Just how slightly was made clear when Moratinos' visit was nearly canceled over the thorny issue of territorial waters. The longtime dispute - Britain claims the first three nautical miles around the peninsula, while Spain holds those waters to be its own - flared anew in May when the European Commission, at...