China's yuan surpasses euro as world's 2nd trade currency

China's yuan has overtaken the euro to become the second most-used currency in international trade finance, a global transaction services organisation said Tuesday.

The market share of the yuan, also known as the renminbi (RMB), in traditional trade finance reached 8.66 percent in October, surpassing the euro on 6.64 percent, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) said in a statement.

Global trade remains utterly dominated by the US dollar, which it said had an 81.08 percent share.

More here: http://sg.finance.yahoo.com/news/chinas-yuan-surpasses-euro-worlds-110152443.html

God only knows why the basket case euro is worth anything ,If it wasnt for Germany the thing would be worthless.

And so the Chinese begin their world domination.

And so the Chinese begin their world domination.

And so the Chinese begin their world domination.

Over the Euro.