The Rise of Renminbi: China's Strategic Currency Shift

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This chapter explores the growing adoption of the Renminbi in international finance, particularly following significant shifts in 2024. It highlights how geopolitical tensions and strategic currency partnerships are propelling China's currency to the forefront of global trade and investment.

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

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