The Chinese yuan

[Stephanos]

🇨🇳💱 The Chinese yuan quietly surpasses the dollar.

China is reshaping global finance without the noise. The yuan has overtaken the U.S. dollar in cross-border transactions within its territory, reaching 48% vs. 47% for the greenback. It also briefly surpassed the euro as the second most-used currency in global trade during 2024.

From swap agreements with dozens of central banks to a digital yuan expanding across 16 countries, Beijing's strategy is clear: build an alternative system without direct confrontation.
As Brazil, Argentina, and Russia trade directly in yuan, the currency's role in global commerce keeps rising,  now making up 8.5% of international transactions. What worries Washington isn't a sudden replacement, but a slow erosion of dollar dominance.

The financial power shift has begun. 🌍