Part III: Real Reform Unleashes an Asian Consumer Boom & Enhances Chinese Power

The first major implication of the major powers competition between the US and China is the currency impact.  China attempts to internationalize its currency and reduce the relative share of the US dollar in global accounts will likely shift into overdrive as result of this competition.  There is nothing like a structural shift out of the old hegemon's currency to prove there is a new power on the block a la the dollar edging out pound sterling.

Will China travel down the reform path?

 Currency Currents 13 March 2013