Wednesday, December 23, 2015

Zimbabwe dollar? Welcome to the future of the Zimbabwe Yuan

On Dec. 22, one of the most infamous economies in the world over the past 20 years may soon be divesting themselves of dollar hegemony and moving over into the camp of the Chinese Yuan.  In a move dedicated towards strengthening both monetary and trade ties with the Far East power, Zimbabwe’s Finance Minister said that very soon the Yuan could be used as one of many currencies within the African nation’s economy, and help support their financial system by including it in a basket that already allows use of the dollar in everyday transactions.
Zimbabwe of course is well known for entering into a hyper-inflationary environment so great, a $100 trillion Zimbabwe note could barely buy a citizen a couple eggs, and other nominal type item.