As the yen sinks, Asia’s monetary anchor subtly shifts to yuan

In mid-June, Indonesian Finance Minister Purbaya Yudhi Sadewa spent two days in Beijing and flew home with more than pleasantries. China’s finance ministry and the People’s Bank of China pledged to fast-track approval of Indonesia’s debut panda bond, a renminbi-denominated issue targeting around US$1 billion. The Asian Infrastructure Investment Bank (AIIB) added a commitment of
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