China is making a significant shift in its foreign exchange strategy, dropping the US dollar in favor of the Chinese Yuan for global trade.
This move is seen as a strategic response to the ongoing trade tensions between China and the United States.
As the world\“s second-largest economy, China\“s decision to reduce its reliance on the US dollar is expected to have a profound impact on the global financial system.
Several Indian businesses are already exploring opportunities to trade with China using the Yuan, indicating a growing preference for the Chinese currency in international transactions.
