Yuan has surpassed the US dollar to become the most used currency in #China's cross-border transactions.

This is quite an astonishing development, since yuan's share was close to 0% in 2010, but is now 53%.”

https://i.redd.it/z9ndge9ww7uf1.jpeg

by wakeup2019

4 comments

  1. In case anyone brings up swift records show RMB weighting less and less, China already uses its own system for RMB cross border transactions which is not traced by swift.

  2. Fuck the dollar. Why should everyone continue using it as reserve currency, while the US deliberately devalues it? Way to be hypocritical about China’s currency control, and then go ahead and do the same thing.

  3. The rise of China mostly explains why the US is in complete meltdown right now.

  4. It’s true the dollar is king nut yhe chinese are positioning themselves in cross border regions for trnsactions; Step by step in 15 years , they’ve done from 0% to 54% in the use of the yuan instead dollar….Slowly but surely the tide rises

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