The dollar decline continues: China begins direct convertibility to Asia’s #1 financial center

Singapore Skyline - Public Domain

This morning some of the biggest financial news of the year made huge waves all over Asia.

Yet in the Western press, this hugely important information has barely even been mentioned. (CNBC.com, for example, has yet to report on this story as of 11:45am Eastern…)

So what’s the news?

The Chinese government announced that the renminbi will become directly convertible with the Singapore dollar… effective tomorrow morning.

It’s clear this deal has been in the works for a while, and it’s another major step towards the continued internationalization of the renminbi and unseating of the dollar as the world’s dominant reserve currency.

(Read the rest of the story here…)

***If you are a news addict, be sure to bookmark The Most Important News and visit on a daily basis for the very best breaking news, articles and videos from all over the Internet!***