Yuan tipped to replace U.S. dollar, Euro in southeast Asia

[xinhuanet] China's currency could be eventually used as an alternative to the U.S. dollar and Euro by southeast Asian countries, experts said.

"In the long run from 2015 onwards, trade with Asia will largely increase under the ASEAN-China Free Trade Area agreement, which will influence the use of the yuan and the local currencies. The yuan is then a good alternative for the international trade in the future," said the official, referring to the year in which the regional bloc will become an ASEAN Economic Community.

Nevertheless, he said, the role of the Chinese currency in Thailand and other ASEAN states will remain limited in the short and medium terms.

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