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Yuan in consideration for IMF currency basket

G20 ministers discuss introducing the Chinese Yuan into the IMF's articifial global currency.

Ministers in the G20 have proposed that the Yuan should be introduced into the currency basket of the IMF's Special Drawing Rights fund.

"We must support the inevitable internationalisation of the world's major currenciesm," said the French president, Nicholas Sarkozy.

If this were to happen, it would increase the strength of the Yuan considerably, which would appease frustrated international exporters who argue that China's relatively weak currency gives an unfair advantage to their exports. The move would also acknowledge the economic power of China. The currency basket currently includes the dollar, the pound, the Japanese yen, and the Euro.

Liam McLaughlin is a freelance journalist who has also written for Prospect and the Huffington Post. He tweets irregularly @LiamMc108.