Because Beijing scales RMB invoicing and swaps, cross-border dollar demand shifts. Expanded PBOC swap lines and commodity trade billing in RMB aim to normalize non-dollar settlement among key partners.
— Altering currency choice in trade affects reserve composition, sanction efficacy, and bargaining power across blocs.
Thomas des Garets Geddes
2025.07.03
100% relevant
It highlights China’s goal of greater RMB use and international monetary role as a response to U.S. sanctions risk.
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