Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Opinion / Online-views/  Quick Edit | The yuan talks
BackBack

Quick Edit | The yuan talks

Quick Edit | The yuan talks

Photo: BloombergPremium

Photo: Bloomberg

China’s ambitions to project the yuan as an alternative to the US dollar got a boost after Apple Inc. last week began to accept it as a medium of payment. For Apple, though, the logic is merely commercial.

Photo: Bloomberg

For the Chinese authorities, it would also be a kind of sweet revenge. The American political establishment has worked overtime to blame the yuan for the country’s economic travails. Now, they can hold up Apple as yet another reason for the US to rethink its stand on accepting the yuan as a worthy rival.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 02 Dec 2011, 12:58 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App