The Start of De-Dollarization: China’s Gradual Move Away from the USD

“In the first few months of 2010, settlements in local currency accounted for less than 1.0% of China’s cross-border payments, compared to approximately 83.0% in USD.

China has since closed that gap. In March 2023, the share of the RMB in China’s settlements surpassed the USD for the first time.”

https://www.visualcapitalist.com/sp/hf02-start-of-de-dollarization-chinas-gradual-move-away-from-the-usd/

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