Usually, the internationalisation of the currency is the endpoint of a long process.

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Such internationalisation will also mean challenges for national government, says Sir Michael.

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And in the lead up to the 2008 crisis, China had exactly the same reasons for holding back on the internationalisation of the yuan.

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But, if the situation deteriorates, there is another option: internationalisation.

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The Internationalisation Enterprise series began in 2003.

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Meanwhile, a survey of small businesses backed by the Scottish Council for Development and Industry (SCDI) and Strathclyde Business School has found that only 10% of respondents made extensive use of digital technology and had a clear digital strategy to support their internationalisation.

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Should the Security Council be presented with proof of the Assad regime's complicity or worse in the Hariri assassination, and should Damascus fail to hand over suspects for trial, Mr Assad's government is sure to be punished by further isolation, and an internationalisation of sanctions that are now unilaterally imposed by America.

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