World Power Shift: Chinese Yuan Overtakes US Dollar As China’s Most Used Cross-Border Currency For The First Time

The yuan has surpassed the dollar as the most-used currency in China’s cross-border transactions for the first time, ever.....KINDLY READ THE FULL STORY HERE▶

This shift reflects Beijing’s efforts to increase the international use of the yuan, with cross-border payments and receipts in yuan rising to a record $549.9 billion in March. Despite the yuan’s increasing use, it still accounts for just 4.5% of global currency transactions for trade finance, while the dollar holds a commanding 83.71% share, but that might change soon.

Take a look at some reactions below:

“Hear me out. Biden is running for the presidency again lol think about that 🤣.”

“A new world Power is gradually emerging!!.”

“And the western world, still sets up factories in China, still buys Chinese goods , and all because of profits. Maybe it’s time to switch business to other countries such as India, Vietnam, Malaysia, etc etc.”

“The last line in the caption is key – 4.5% of transactions vs 83.71% for USD. China’s making some moves and will surely get a larger share but still a looong way to go before the dollar is dead.”

“And America still figuring out how many genders are there.”