New trading markets are going to appear soon!

Or so they say.

The logic behind the argument :
How do the Central Banks in emerging markets feel about the present situation ? Buying dollars at expensive rates and receiving 0.7%, while selling your own currency at an inexpensive rate and paying 4.3%+ is a recipe for disaster.
[...]
Governments are now looking at ways [...] to let their currencies naturally float.


Would you guys be happy to have more markets with a low spread ?

Great article, thanks.

So when China keeps their CNY of low value and so allow the dollar's value to remain high, they exchange the hordes of dollars they have for other Central Banks' products of lasting value. When China feels they own enough of the other countries or they grow wise to China, which the article indicates they are slowly doing, then China will have no more use of the dollar and, as you say, create a market for CNY.
I'm not sure what you mean when you say these other countries will soon be currencies exchangeable for a low-pip spread, because the article says those countries are localizing their monetary exchanges to avoid buying the dollar from China. Maybe once the CNY normalizes, it'll open the market for these other countries' currencies as well.

It would be very nice to trade the eur/cny or usd/cny !
I love china

IMHO i think that CNY is impossible to be allowed to trade bcs of the restricted function of that currency (exporting machine).

No way China and India will allow free float of their currencies for many decades to come.

China is saying you can take yuan 0.5% + - on a given day and thats it ! If yuan makes volatile swings, china will intervene.

Their economies are not developed as Europe, US or Aus/NZ.

You are right, but you are missing one vital piece of information from the equation. The Chinese central bank is able to manipulate the price of CNY only because the market for it is very small. Currently you cannot deposit CNY on your bank account outside of China (well you can, but you would have to deposit that money to a Chinese bank, say the Bank of China Australia, for example). The Chinese are very much thinking ahead. Recently they have started selling Chinese bonds denominated in CNY. Is this a way to create a market for CNY or not? Of course it is. This is just a small step, but I would imagine that in the coming years and decades, they will start opening up the market for CNY based trades. This would all lead to a bigger market and once that market gets big enough, it will be difficult for the Chinese to 'announce' the CNY rate as it will be determined by the market. Of course this will not happen tomorrow, it will take a lot of time, but we will get there. I'm just pointing out the reason why it is so easy for the Chinese central bank to 'set' the USDCNY rate.