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by enaaem
2065 days ago
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There is a weakness. Despite being the second largest economy of the world, only 4.3% of international trade happens in in the Yuan [1]. People do not want give their oil and wheat in exchange for Yuans! Countries do not see the Yuan as a valuable reserve currency, which reflects their trust in the Chinese system. Since the majority if international trade happens in US Dollars, China needs to trade with the US to get Dollars. The US on the other hand produces much more food and energy it needs. [1] https://www.scmp.com/economy/global-economy/article/3027506/... |
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