Category: the Yuan

The US Dollar Is Not Going Anywhere

Commentary China, Russia, and other countries want to drop the U.S. dollar, but there is no alternative. In recent weeks, Chinese state media, cryptocurrency media, and other non-mainstream media have been running stories about how the world is abandoning the U.S. dollar as its reserve and trading currency. Other reports claim that the yuan is…


Beijing’s Dubious Yuan Dreams

Commentary Chinese leader Xi Jinping just completed a successful trip to the Middle East. There he stressed trade relations with oil-rich nations, especially Saudi Arabia. Xi also made clear a strong desire for oil contracts to settle in yuan and not, as usual, in dollars. He made no secret that his goal was to advance…