As the world’s second-largest economy by nominal GDP, China has actively sought to conduct international trade with its commercial partners using its own currency rather than the United States dollar
A few days ago the US sanctioned an Egyptian bank for trading with Iran. (This means they are refusing to sell them USD.) Could this be a response to that?
A few days ago the US sanctioned an Egyptian bank for trading with Iran. (This means they are refusing to sell them USD.) Could this be a response to that?
Likely, and this also goes beyond Iran. The US has basically weaponized the dollar system now, and everybody knows they need to get off of it ASAP.