China’s State Media Claims De-Dollarization Improves RMB’s International Status

China’s State Media Claims De-Dollarization Improves RMB’s International Status
RMB and USD seen at a cash exchange. STR/AFP/Getty Images
Kathleen Li
Updated:

The U.S. dollar has long been recognized as the leading global reserve/fiat currency. But recent hardships posed by the pandemic, war, economic sanctions, dwindling food reserves, and energy shortages have motivated some countries to accelerate the diversification of their currencies.

This emerging trend is referred to as de-dollarization.

Kathleen Li
Kathleen Li
Author
Kathleen Li has contributed to The Epoch Times since 2009 and focuses on China-related topics. She is an engineer, chartered in civil and structural engineering in Australia.
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