China De-Dollarizing

I’m Chris Anstey, a senior editor in Boston, and today we’re weighing the evidence of China de-dollarization. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X (formerly known as Twitter) via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so here.

When the US led efforts to freeze Russia’s central bank reserves in the wake of the Ukraine invasion, it seemed like such “weaponization” of foreign exchange would spur another big strategic rival — China — to reduce its vulnerability to the dollar.