New world reserve currency a decade away...

Moscow’s finance minister says China’s Yuan the ’shortest path’ to new world reserve; predicts ‘new major currency unions’ not soon to emerge. Developed nations are dragging their feet over reforms of the International Monetary Fund, where Moscow wants to have a greater say, Russian Finance Minister Alexei Kudrin said on Saturday. “We already see a lot of foot-dragging and tripping-up along this path,” said Kudrin during Russia’s premier economic forum in Saint Petersburg. “There is a need to make the IMF a true representative of the world’s leading economies. It’s not there right now,” he said, noting that China had a lower representation quota than Switzerland or Belgium...Link