Video/song credit: "Western Union" by The Five Americans*, via TheBacMaster on youtube.com
China recently approved changes to its policy for accepting a much greater volume of cross-border payments in its home currency (vs. U.S. dollars), of the Reminbi. (Read more about the difference between the Reminbi and the Yuan in this NPR article, Wait, What’s the Difference Between Yuan and Renminbi, and read more about the recent policy change in this article in Treasury & Risk: Paying in RMB Expanded).
You can learn more about this signficant development in an April 24 webinar (2:00 pm EST) sponsored by FEI and Western Union, featuring Alfred Nader, Vice President of Corporate Strategy and Development for Western Union Business, speaking on: "Understanding the International of the Chinese Currency: Is Your Organization Renminbi Ready?" Western Union's Nader is frequently quoted in the business press, including the Treasury & Risk article above, and this article published by CNBC.
Over the past decade, Nader has led various teams in the development of currency trading strategies for the payments industry. Alfred has specialized in researching the emerging global payment trends. His focus is to identify risks and opportunities and disseminate his findings to those exposed to currency risk. He is a graduate of The George Washington University School of Business.
The program will be moderated by Ellen M. Heffes, Editor-in-Chief, Financial Executive magazine.
Learn more about, and register for the April 24 webcast here.
* The song "Western Union" by The Five Americans was the #5 hit song on Billboard's Hot 100 in 1967. Billboard was in many ways synonymous with Dick Clark's American Bandstand. R.I.P. Dick Clark, who
passed away yesterday at the age of 82.