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      <JournalTitle>Allana Management Journal of Research, Pune</JournalTitle>
      <PISSN>? ?2581-3137 (</PISSN>
      <EISSN>) 2231 - 0290 (Print)</EISSN>
      <Volume-Issue>Volume 1, Issue 1</Volume-Issue>
      <Season>January 2011 - June, 2011</Season>
      <ArticleType>Human Resource Management</ArticleType>
      <Abstract>Sub-prime crisis, European debt crisis, Fed__ampersandsign#39;s QE2 policy… consequently many observers conjecture is once again rife that we are reaching the end of the era of dollar dependency. Evidently next question is where&#13;
will be the safe heaven? Who will give the hope against all odds ? Given the sheer size of economy and&#13;
fierce growth rate spotlight is now on Chinese Yuan. In another two decade years China is set to replace the US as&#13;
the world__ampersandsign#39;s largest economy. It is already the world__ampersandsign#39;s largest exporter and will soon also be the largest trading&#13;
nation. Contrary to the US, the world__ampersandsign#39;s largest debtor, China is also a large net external creditor, only trailing&#13;
Japan. A close parallelism from history in hand is that as once economically and financially ascendant Dollar has&#13;
replaced British Sterling troubled by the bequest of two world wars; would this time Redback will replace the&#13;
Greenback in similar way ? China is taking many incremental steps like more trade settlements in Yuan, Currency&#13;
Swap, and diversification of its reserves to internationalize its currency. Along the way there are challenges of&#13;
growth with right monetary policy maneuver, exchange rate stability, financial market and legal reforms which&#13;
requires considerable time in coming years. While Pound, Yen are not so strong currency given their economic and&#13;
financial size and structure but Euro is still in the race. Also technically speaking IMF SDR might be another viable&#13;
alternative. As world is becoming more multi-polar there is less conclusive possibility of actually Yuan becoming&#13;
single monopoly reserve currency like Dollar. After next 15-20 years more probable scenario is that it will become&#13;
an internationalized currency and pose as a strong contender along with Dollar and Euro for reserve currency&#13;
        <Abstract>https://aimsjournal.org/ubijournal-v1copy/journals/abstract.php?article_id=3379&amp;title=WILL CHINESE YUAN BECOME THE NEXT RESERVE CURRENCY?</Abstract>