Can yuan replace dollar in global trade? ...News

Russia Today - Economy
Can yuan replace dollar in global trade?
source : Russia Today ( News ) () 65
Russia is not the only major economy to use the Chinese currency for trade settlements as more and more nations seek alternatives to the greenback When Russia’s foreign exchange reserves were frozen and the country was cut off from the SWIFT messaging system in light of the Ukraine conflict, Moscow turned to other settlement options, including the yuan. However, Russia is by no means alone in making use of the Chinese currency. In recent years, several other major global economies have already begun using the yuan or are considering doing so. As Russia and many nations in the Global South seek to extricate themsel

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