China Dreams of Challenging US Dollar Supremacy

Business

President Xi Jinping has set his sights on a "powerful" currency befitting China's growing stature on the world stage, one that could challenge if not erode the U.S. dollar's decades-long dominance in financial markets. But the Chinese yuan, or renminbi, is unlikely to become a key player in foreign exchange reserves without sweeping structural reforms that Beijing has been hesitant to make, analysts say. Despite lackluster consumer demand and a five-year housing slump, China still is by many

China Dreams of Challenging US Dollar Supremacy http://www.newsweek.com - 14.02.2026 13:53

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China Dreams of Challenging US Dollar Supremacy http://www.newsweek.com - 14.02.2026 13:53