Killing the dollar softly: China lobbies ASEAN on yuan use to expand economic influence | WHAT REALLY HAPPENED


Killing the dollar softly: China lobbies ASEAN on yuan use to expand economic influence

The Association of Southeast Asian Nations (ASEAN) and its East Asian partners consider adding Chinese and Japanese currencies to their $240 billion currency swap safety net, business journal Nikkei Asian Review reported.

It said the 10 members of the association along with China, Japan and South Korea will discuss the proposed change to the so-called Chiang Mai Initiative at a May 2 meeting of finance ministers and central bankers in Fiji.

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