Don't Let the IMF Fool You – It Had No Choice But to Add China's Yuan

The IMF just approved inclusion of China's yuan in its basket of global reserve currencies. Of course, the IMF would have us believe it allowed the yuan into its basket, as though it was the one in control. Managing Director Christine Lagarde said the yuan's inclusion was based on a clear indication of the reforms China has carried out. But the truth is the IMF had to include China's currency into its basket - sooner rather than later. China doesn't need the IMF, all it wants is the legitimacy a reserve currency confers on the nation, Money Morning Capital Wave Strategist Shah Gilani said on Monday. It's actually the other way around - the IMF is the one that needs the yuan. Here's why... Tags: China's yuan , Chinese Yuan , Chinese yuan reserve currency , IMF yuan reserve currency , IMF yuan reserve currency approval , yuan global reserve currency , yuan reserve currency approval , yuan world reserve currency To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2015 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post Don't Let the IMF Fool You – It Had No Choice But to Add China's Yuan appeared first on Money Morning - We Make Investing Profitable .