June 17, 2024

The yuan replaces the dollar in the global south

Reading time: 5 minutes

06/25/2023 17:45 Updated: 06/25/2023 17:45

The Global South is decoupling from the dollar. The use of the yuan in world trade increased by 20 percent in just one month. There are very different reasons for this.

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The use of the yuan in world trade is increasing exponentially

Xi Jinping, President of China. In trade with the Global South, the yuan is increasingly replacing the dollar. (Photo: dpa)

Photo: Christophe Soeder

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