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0 sats \ 0 replies \ @Solomonsatoshi 22 Mar \ parent \ on: Bessent’s Debt Dilemma (Financial Times Unhedged, Armstrong/Reiter) econ
I would question the accuracy of the stats provided by US controlled and aligned organisations.
I would also suggest that much of the Yuan denominated trade is simply not reported to western institutions.
For more than a decade Iran has sold oil to China via a shadow market operated by Chinese 'teapot' refineries and shadow banking payments to avoid US/SWIFT sanctions.
Increasing trade with Africa, Asia and other regions is denominated in Yuan but the data does not go to US/western institutions.
That said USD is certainly still dominant, but also, gradually, and increasingly, waning in its dominance.
China sees gradually shifting trade payments away from USD controlled channels and protocols as important as developing its military and trade infrastructure (Belt and Road) . They are all logical and concurrent requirements of developing its emerging status as the worlds dominant economy and power.