Yogthos on Nostr: In the first few months of 2010, settlements in local currency accounted for less ...

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/