Joseph Yam
Yam backs yuan as international currency
21-06-2010
The former head of the Monetary Authority, Joseph Yam, says China should internationalise the yuan -- and should do so quickly.
Mr Yam - who's an adviser to the People's Bank of China - says with China's economic growth rate and its proven track record of effective macro-economic management, the yuan could be "the third leg of the international monetary system".
He says currently the US dollar and the Euro are structurally unstable and many have argued for another alternative currency that would command international confidence.
