RANsquawk EU Market Re-Cap - 9th August 2012

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Snidley Whipsnae's picture

More recap:

"Money [yuan] Talks and London Listens"



"More than 100 UnionPay payment terminals in the store [Harrods] also help to make Chinese shoppers feel more at home. Through the machines, part of China's unified bank card network, Chinese visitors can pay for their purchases with the same cards they use at home.

A few streets from Harrods, a billboard featuring a green jade dragon shaped like the yuan symbol stands outside a bank. The ad reads: "A new global currency is emerging. Be part of it." The commercial is for HSBC, a bank rooted in the silk and tea trade between China and Britain in the 19th century.

The UnionPay terminals, the jade dragon advertisements and the shops on the streets of London offering exchange services between the British pound and the yuan are the tip of the iceberg in the biggest story in the financial markets today: the internationalization of the Chinese currency"


"Blair Is Deeply Worried UK May Leave EU"