Could China's Currency Be The New World Reserve? | Economics Explained
Economics Explained
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China's Mission to the World Stage Is Helped by the War in Ew Krane
China is pushing the trading block to adopt the r m b as the defacto medium of exchange. China's mission to push its currency on to the world stage has also been assisted by the war in ew krane. Western sanctions, particularly those that cut off russian reserves of american dollars have made a few governments uneasy about how much safety they really get from their reserves. The best way to build up these reserves is by trading with china.
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