The new yuan clearing hub underscores rising use of the yuan for trade, as well as Beijing's push to internationalize its currency.
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In the meantime an African strategy to internationalize the yuan is more pragmatic and achievable and can be of benefit to both sides.
FORBES: China's Yuan Internationalization: Made In Africa, Not Hong Kong
The proposed international board was first announced in 2009 as part of initiatives to internationalize the renminbi and make Shanghai a global financial center.
Whether it was efforts to internationalize exchange in services, symbolized by a burgeoning export of medical services, as people came from all over the world for high-quality medical procedures.
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The Ministry of Education (MOE) has become increasingly involved in the nation's efforts to internationalize education by establishing closer bilateral relations with other countries in the field of education.
Pakistan denies India's allegations and has suggested U.N. monitors in the region conduct an inquiry a call that India rejected, saying it didn't want to internationalize the issue.
Eventually the strategy of using Hong Kong to internationalize the yuan will pay off and lay the base for the ultimate maneuver of making the yuan fully convertible in Japan.
FORBES: China's Yuan Internationalization: Made In Africa, Not Hong Kong
China has stated its desire to "internationalize" the yuan, increasing the currency's use for trade, investment, and perhaps even one day as a reserve.
Indeed, its apparent attitude that bailing out failed East bloc economies is an exclusive responsibility of the West is of a piece with the Soviet effort to "internationalize perestroika, " i.e.
Foreign aviation circles have been pushing to re-internationalize Haneda, with some success.
As debates over whether or how China should internationalize its currency, the renminbi, rage on, it is striking to see what remains missing from the dialogue: Africa.
FORBES: China's Yuan Internationalization: Made In Africa, Not Hong Kong
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