Bloomberg on Nostr: nostr:note1z7kj4ms4r839kernqheq6khwzqwa9jdnas0phyu8hcga9kfqry4syjdd4d

quoting note1z7k…dd4d

China's Yuan Strategy Faces Challenges in Cross-Border Trade Settlements and Russia's Yuanization Efforts
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#df093c6f ver:0.1

China's yuan strategy for cross-border trade settlements faces challenges, including lack of interest from trading partners and obstacles to capital flows. The yuan's internationalization index lags behind the US dollar and euro. To overcome these challenges, China needs to simplify settlement processes, reduce costs, and promote yuan use in major commodities trading. Meanwhile, Russia has embraced the yuan, with Chinese payment systems replacing SWIFT and the yuan becoming the most popular currency on the Moscow Exchange. The annual value of bilateral trade between Russia and China is $240 billion. #China #yuan #trade #Russia...

#newstr #China #Yuan #CrossborderTrade #Internationalization #Russia #EconomicIntegration #Swift #Sanctions

https://here.news/story/df093c6f?ver=0.1