The Economist (April 25 Issue)
2026/ 04/ 27 by jd in Global News
“Xi Jinping wants a powerful currency. America’s war has helped.” Usage of the yuan is expanding, but the currency remains far from the status of a global reserve currency. “Last month China’s currency accounted for over 8% of global trade finance, according to SWIFT, second (but a distant second) to the dollar, on over 80%.” Nevertheless, the yuan is becoming “a source of comfort for countries and firms disconcerted by America’s haphazard stewardship of the truly powerful dollar.”
Tags: 80, China, Comfort, Countries, Disconcerted, Finance, Firms, Global reserve, Global trade, Haphazard, Powerful currency, Stewardship, Swift, U.S., Xi, Yuan
