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Economy

Paola Subacchi: Seeing through the SDR hype

The inclusion of the yuan among the currencies that compose the Special Drawing Rights -- the International Monetary Fund's international reserve asset -- is a "milestone" for China, as IMF Managing Director Christine Lagarde said when she presented the executive board's decision on Nov. 30. Indeed, including the yuan, or renminbi, in this group -- the other key currencies are the dollar, the euro, the yen and the pound -- is hugely symbolic for the Chinese leadership.

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