According to SWIFT, transactions denominated in China's yuan in August accounted for a larger proportion of global trade than those denominated in Japanese yen.
According to SWIFT, transactions denominated in China's yuan in August accounted for a larger proportion of global trade than those denominated in Japanese yen.
Cut-throat competition among ratings agencies may be leading to inaccurate evaluation of risks. China's 'Bear Stearns moment' may be just around the corner.