🔥🔥24% of global trade is happening in Chinese yuan!!!
Incredible! But already half of China’s cross-border transactions have been using RMB.
#Dedollarization in full speed.
(BTW: The actual number is probably 12% but economists always do a double count of buyer and seller.
Same reason why they say dollar is 80% of trade, when it’s 40%).
Incredible! But already half of China’s cross-border transactions have been using RMB.
#Dedollarization in full speed.
(BTW: The actual number is probably 12% but economists always do a double count of buyer and seller.
Same reason why they say dollar is 80% of trade, when it’s 40%).
China is the world’s largest exporter.
China is the world’s 2nd largest importer.
China is the #1 trade partner for 120 countries and #2 trade partner for 70 countries.
How can yuan not be a global trade currency?
China is the world’s 2nd largest importer.
China is the #1 trade partner for 120 countries and #2 trade partner for 70 countries.
How can yuan not be a global trade currency?
In China, yuan is now used more than US dollar for cross-border transactions.
In 2010, yuan was a nobody and USD was the king.
But life comes at you fast!
In 2010, yuan was a nobody and USD was the king.
But life comes at you fast!
Staggering 90% of Russia-China trade is now done in Yuan and Rubles!
It used to be almost all US dollar just a couple of years ago.
archive.is
It used to be almost all US dollar just a couple of years ago.
archive.is
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