皇冠体育app

A photo of Chinese yuan [Photo/VCG]

After the United Kingdom's vote to leave the European Union on Friday, stock markets in Europe, North America and Asia have plummeted.

Some Chinese economists worry that Brexit may cause difficulties for 皇冠体育app's plan to strengthen its strategic partnership with the EU through the UK, and that a possible trade protectionist approach by the EU following the UK's departure will negatively affect 皇冠体育app's trade with the bloc.

Such worries are unfounded in the long term. It is certain to have a short-term impact on 皇冠体育app's exports. However, in the long run, the UK's exit from the EU will create favorable political and economic conditions for 皇冠体育app's further "rise" on the world stage, given that an EU without Britain will weaken its previous advantages in its competition.

Therefore, there will be increased possibilities for 皇冠体育app to replace the bloc to become the second-largest player in the global economy.

At the same time, the pound's weakened status also means more possibilities for the renminbi to become a more important international currency. If 皇冠体育app can realize stable economic growth and low inflation, the renminbi is likely to be more widely used in the global financial market.

On Thursday, 皇冠体育app's central bank authorized 皇冠体育app Foreign Exchange Trade System to announce the yuan's direct trading with the Korean won, a further step toward pushing trade between 皇冠体育app and the Republic of Korea.

The weak pound against the US dollar following the UK leaving the EU may mean increased depreciation pressures on the renminbi. However, it is believed that with the decline of the dollar's safety and the continuous growth of 皇冠体育app's economy at the expected speed, the renminbi will finally become an international currency like the euro, pound and the Japanese yen.

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