The Chinese Yuan is already a global reserve currency, and Chinese companies are taking advantage.
by Inside China Business [2-5-2026].
China's central bank has currency swap agreements with dozens of countries, and trillions of dollars in goods trade are now settled in renminbi.
The US Dollar remains the dominant reserve currency globally. But a severe shortage of dollars in many systems opens the door to Chinese companies, who can transact business outside the USD.
BRICS expansion is another driver of the internationalization of the RMB, along with the urge of many countries to de-risk from Western banking systems.
Closing scene, Ganzhou, Jiangxi.
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