As President Xi Jinping and US President Donald Trump talked tariffs, agricultural quotas and critical minerals at last month’s closely watched summit in Washington, an “elephant in the room” loomed over the discussion: China’s efforts to gradually diversify away from US dollar assets.
Beijing has gradually been cutting its holdings of US Treasuries while pushing to expand the yuan’s global use and developing alternative financial architecture. While these issues may not have featured in the…
Source: www.scmp.com
