FX Week Asia: World economy 'needs alternative reserve currency'

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The world economy needs an alternative reserve currency, and Chinese renminbi stands a good chance of stepping up to fill the role, but it is still unclear when the currency will become sufficiently internationalised, according to a keynote speaker at the FX Week Asia conference in Singapore this morning. 

“We really need a new reserve currency to stabilise the world economy. Will renminbi become a credible international currency? There has been talk of that, but in my opinion, it is still years