China has seen a near-doubling of the yuan’s role in global payments, but the dollar still dominates. Photo: AFP / Nicolas Asfouri
Amid considerable doom and gloom in China’s economy, President Xi Jinping has at least one 2023 milestone to celebrate: a near-doubling of the yuan’s role in global payments. The yuan’s 3.6% share might not sound too impressive considering the US still commands 47% of payments. But the rate of increase from 1.9% over the last […]
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