The IMF has accepted the Chinese yuan into the club of elite currencies.<br />IMF set to put yuan in reserve currency basket https://t.co/h7quutjx6y pic.twitter.com/w7meHPtER0— Press TV (@PressTV) November 29, 2015<br /><br /> It marks a turning point for China and its acceptance as a global economic power.<br /><br /> Managing director of the IMF is Christine Lagarde:“The addition and the inclusion of the renminbi in the SDR basket of currencies is a recognition of the significant reforms which have been conducted, of the significant opening up of the Chinese economy, of the financial, more market-driven principles that are being used by the Chinese authorities going forward.”<br /><br /> For Beijing this is about prestige and will allow China to challenge the economic dominance of the US.<br />The IMF is on the verge of labeling China’s yuan a reserve currency: https://t.co/aaj3Xf79W2 pic.twitter.com/6DOanN7V1h— WSJ China Real Time (@ChinaRealTime) November 30, 2015<br /><br /> The yuan joins the dollar, euro, pound and yen in the b
