China's Yuan: Disrupting the Global Trade Status Quo
For the first time, the yuan has surpassed the US dollar as the most used currency for Chinese cross-border transactions, driven by China's efforts to empower the yuan in trade and capital markets, although the dollar remains dominant in global markets the yuan is chipping away and offering the world an alternative. Nations are flocking to the doorsteps of China to set up a variety of trade and bilateral agreements over the last several months. Clearly confidence in the Western hedgemony is fading.
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#YuanRise, #USDollar, #CrossBorderTransactions, #GlobalTrade, #ChineseEconomy, #CurrencyWars, #FinancialMarkets, #EconomicTrends, #CapitalMarkets, #GlobalFinance
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