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Opinion

China's growth does not guarantee yuan’s outsize influence in markets

Fragmented world means currency will struggle to become truly liquid

| China
The apparent gap between currency share and GDP share is not a new phenomenon.   © Chinatopix/AP

The influence of China on the global economy is becoming larger and larger, but its presence in global financial market is still very limited.

A recent survey from the Bank for International Settlements found that, in terms of foreign exchange market turnover, the yuan is the eighth most traded currency, with a share of 4.3%, ranking just after the Swiss franc. The dollar is still the dominant currency, being on one side of 88% of all trades.

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