China Takes Aim at Dollar’s Global Domination
A screen shows a live coverage of Chinese President Xi Jinping delivering a speech on March 13.
Photographer: Jade Gao/AFP/Getty Images
President Xi Jinping is supercharging efforts to rival the most powerful currency in the world.
China is pushing through deals linked to the yuan as it seeks to circumvent US attempts to weaponize the dollar. Agreements to transact some payments in the Chinese currency from Saudi Arabia, Brazil and even France have been signed in recent months.