As China became the second largest economy in the world, it was natural for American companies, including my own, xAd, to be interested in owning a piece of the market in China. With roughly 600M active smartphone users in China, almost 3 times that of North America, and companies such as Apple and General Motors […]
They called it a “historic moment in international finance”. And so with great fanfare, the International Monetary Fund (IMF) announced yesterday that they would be including China’s renminbi in the basket of currencies that comprise their institutional monetary unit, the SDR. The IMF invented the SDR back in 1969 to be used as a foreign […]