The Rise of Renminbi: Opportunities and Challenges

1min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

This chapter explores the motivations behind countries considering the use of the Chinese Renminbi in trade, including advantages such as lower financing costs and protection from US sanctions. Despite ongoing efforts to expand its usage, skepticism remains regarding its ability to compete with the US dollar due to China's closed capital account and reluctance from major partners to adopt the RMB.

Nvidia’s record-breaking earnings still somehow disappointed investors, China’s use of the renminbi in cross-border trading is at a record high, and Berkshire Hathaway becomes the first publicly traded US company outside of tech to be valued at $1tn. Plus, Ford’s big plans to boost profits continue to fall short.

Mentioned in this podcast:

Nvidia revenue more than doubles as demand for AI chips remains strong

China’s international use of renminbi surges to record highs

Warren Buffett’s Berkshire Hathaway surges past $1tn market value

Ford shares have stalled: can CEO Jim Farley steer out of its rut?

The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.