The Chinese yuan will become a global reserve currency faster than most expect, said billionaire Ray Dalio.
The US dollar is currently the world’s reserve currency, but multi-billion dollar hedge fund manager Dalio said the yuan’s role could become much bigger in the next few years.
Dalio, founder of the world’s largest hedge fund Bridgewater Associates, said more global trade and financial transactions could be denominated in the yuan in the coming years. This will help China’s currency become more widely used internationally, he told Christine Tan of CNBC Managing Asia.
Here is the investor’s opinion on why the yuan is becoming more attractive and how its digital form could be a very viable investment alternative.