Time for Dubai to fully exploit renminbi options | GulfNews.com:
"The secret of Dubai’s success often lies in its ability to seize opportunities and act decisively before others even come to realise the existence of such potential. By virtue of its status as the leading business, financial and transshipment hub of the region, the emirate might be in the position to play a role in the growing clout of the Chinese renminbi as a settlement currency.
Renminbi is virtually becoming the ‘redback’ of Asia, mimicking the role ‘greenback’ plays in global currency transactions. Over the past few years and particularly in recent months, the Chinese currency has made solid progress in becoming a major settlement currency at least on a regional basis, if not on the global scene."
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