An RMB-based financial ecosystem will help facilitate and reduce the costs of sanctions circumvention for China.
The U.S. dollar will dominate as long as private organizations engaged in international trade find it the most convenient currency to use.
The war in Ukraine may have just made it feasible for the yuan to eventually join the ranks of the dollar and the euro.
Dollar-strapped Pakistan says it’ll buy Russian oil using the currency of a “friendly country.” That may be good news for the petroyuan.
A strong U.S. dollar has hit weak Asian economies hard and continues to pose risks even to the region’s largest economies.