Balance of Power

Trump’s Embrace of Weaker Dollar Gives China an Opening

The US president’s stance toward the greenback may help Xi Jinping realize his dream of making the yuan a global reserve currency.
US President Donald Trump and Chinese President Xi Jinping ahead of a bilateral meeting at Gimhae Air Base on October 30, 2025 in Busan, South Korea.Photographer: Andrew Harnik/Getty Images

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Donald Trump’s apparent embrace of a weaker dollar may be giving Xi Jinping an opening to realize a dream — making China a genuine financial superpower with a global currency.