AND NOW WE KNOW WHY SYRIA AND IRAN ARE ALSO NEXT ON THE TABLE .
SYRIA BEFORE WESTERN BACKED ALQAEDA REBELS DESTROYED THE COUNTRY
SO, IS KENYA NEXT??? KENYA IS TRYING TO TRANSITION FROM THE DOLLAR TO YUAN JUST LIKE GHDAFFI'S LIBYA WHICH WAS STARTING AN AFRICAN CURRENCY AWAY FROM THE DOLLAR.
AFRICA INVESTMENT-Kenya aims to host Africa's first yuan clearing house
* Clearing house to cut need for dollar settlements
* Dealers still prefer dollar to tightly managed yuan
* Indicates Chinese challenge in United States, Europe
By Duncan Miriri
NAIROBI, Sept 18 (Reuters) - Kenya wants to host a clearing house for China's yuan currency - a bold African first that would deepen the continent's ties with Beijing, already a big investor from The Cape to Cairo.
Such a venture would not eclipse the dollar in Africa anytime soon, however, because the yuan is tightly managed and traders are wedded to the greenback's flexibility.
Africans can already get quotes for their currencies against the yuan . A clearing house would cut the need for dollar settlements, speed things up and reduce costs.
But the real prize for Kenya, or any other African host, would be the symbolism of being the continent's business gateway with Asia's economic emperor, even if business starts modestly.
Such an exchange would also be the first outside Asia.
Its prospect is a measure of China's challenge to Africa's traditional partners in Europe and the United States and reflects the increasing attractions of a continent with some of the world's fastest growing economies.
"Even if the benefits to business have probably been slightly overblown by diplomats on both sides, I don't think you can understate the symbolic aspect," said Shilan Khan, Africa economist at London-based Capital Economics.
China's ties with Africa have expanded fast. READ MORE...
MASSIVE OIL FIELDS FOUND IN KENYA
REMEMBER ALL THIS JUST HAPPENED RIGHT BEFORE THE MALL ATTACK IN NAIROBI KENYA. WAS THIS ALL A COINCIDENCE? REMEMBER ALQAEDA IS A WESTERN CREATED AND BACKED BOOGY MAN ENEMY USED BY THE WEST TO TERRIFY THE POPULATIONS (USED TO TAKE CIVIL LIBERTIES AT HOME AND TERRORIZE PEOPLE ABROAD), AND ALSO USED TO TOPPLE UNWANTED 'REGIMES' I.E. ALQAEDA REBELS IN LIBYA & SYRIA FOR GEO-POLITICAL PURPOSES. 'THE ENEMY OF MY ENEMY IS MY FRIEND'.
MEANWHILE IN AUSTRALIA, FORMER PM JULIA GILLARD STATED THE SAME, TRADE HER CURRENCY WITH THE YUAN AND MOVE OUT OF THE DOLLAR OVER THE SUMMER, AND GUESS WHAT HAPPENED?? AUSTRALIA NOW HAS A NEW PM AS FROM LAST MONTHS ELECTIONS
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