Hello. Im betty liu. This is bloomberg best. Begin with a day by day review of the weeks top stories. Monday when the imf welcome the currency. It is a recognition of the significant reforms which have been conducted, of the opening up of the chinese economy, of , morenancial marketdriven principles that are being used by the chinese authorities going forward. Shortterm it doesnt mean a lot. To put things in perspective, 318 billion. That is roughly 6 of the daily Trading Volume in total foreign exchange. Just 6 . Gdp,d one third of global less than 1 of total trade. It is a drop in the bucket. It is much more of a psychological effect. Is that significant . Dont think so. It is symbolically important for china because to me it is an officially an endorsement of what china has achieved in terms of financial market. Ad a formal recognition of very Important Role played by china in terms of global trade. Betty michael plath, the founder of bluecrest capital, currently running a billion d
Betty hello. Im betty liu. Welcome to bloomberg best. An indepth report of news around the world. Lets begin with a day by day review of the weeks top stories. Starting on monday, when the imf welcome the chinese currency. The inclusion of the rmb is recognition of the significant reforms, which have been conducted. Of the significant opening up of the chinese economy, of the financial, more marketdriven principles that are being used by the chinese authorities going forward. Shortterm it doesnt mean a lot. To put things in perspective, youre looking at the total allocation of 318 billion. That is roughly 6 of the daily Trading Volume in total foreign exchange. Just 6 . And one third of global gdp, less than 1 of total trade. It is a drop in the bucket. It is much more of a psychological effect. Is that significant . I dont think so. It is symbolically important for china because to me it is an officially an endorsement of what china has achieved in terms of financial market. And a for
Betty hello. Im betty liu. Welcome to bloomberg best. A weekly look at the most Important News around the world. Lets begin with a day by day review of the weeks top stories. Starting on monday, when the imf welcomed the chinese currency. The inclusion of the rmb is recognition of the significant reforms, which have been conducted. Of the significant opening up of the chinese economy, of the financial, more marketdriven principles that are being used by the chinese authorities going forward. Shortterm it doesnt mean a lot. To put things in perspective, youre looking at the total allocation of 318 billion. That is roughly 6 of the daily Trading Volume in total foreign exchange. Just 6 . And one third of global gdp, less than 1 of total trade. It is a drop in the bucket. It is much more of a psychological effect. Is that significant . I dont think so. It is symbolically important for china because to me it is an officially an endorsement of what china has achieved in terms of financial m
Hello. Im betty liu. This is bloomberg best. Lets begin with a day by day review of the weeks top stories. Starting on when the imf welcome monday, the chinese currency. Inclusion ofon and it in the basket of currencies is a recognition of the significant reforms which have been conducted, of the opening up of the chinese economy, of the financial, more marketdriven principles that are being used by the chinese authorities going forward. Shortterm it doesnt mean a lot. To put things in perspective, you are looking at a total allocation of 318 billion. That is roughly 6 of the daily Trading Volume in total foreign exchange. Just 6 . And one third of global gdp, less than 1 of total trade. It is a drop in the bucket. It is much more of a psychological effect. Is that significant . I dont think so. It is symbolically important for china because to me it is an officially an endorsement of what china has achieved in terms of financial market. And a formal recognition of a very Important Rol
Betty hello. Im betty liu. Welcome to bloomberg best. A weekly look at the most news around the world. Lets begin with a day by day review of the weeks top stories. Starting on monday, when the imf welcomed the chinese currency. The inclusion of the rmb is recognition of the significant reforms, which have been conducted. Of the significant opening up of the chinese economy, of the financial, more marketdriven principles that are being used by the chinese authorities going forward. Shortterm it doesnt mean a lot. To put things in perspective, youre looking at the total allocation of 318 billion. That is roughly 6 of the daily Trading Volume in total foreign exchange. Just 6 . And one third of global gdp, less than 1 of total trade. It is a drop in the bucket. It is much more of a psychological effect. Is that significant . I dont think so. It is symbolically important for china because to me it is an officially an endorsement of what china has achieved in terms of financial market. And