China Moves Away From US Dollar Ahead of Digital Yuan
The Eastern superpower is reducing its US dollar exposure amidst fears of inflation and ahead of the launch of its digital currency.
China is reducing exposure to the US dollar amidst fears of massive inflation.
The country has sold over $109 billion worth of US bonds in the first half of 2020.
Its upcoming digital yuan is a contender to the US dollar’s long-held global dominance.