Tag: Chinese Yuan

Report: Saudi Arabia Considers Dumping Dollars for Yuan for Chinese Oil Sales

March 16, 2022
Business & EconomyChinese Yuancommoditieseconomic policieseconomyMarketsMiddle EastSaudi ArabiaU.S. dollarUSUS NewsWorld
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Saudi Arabia is considering a plan to accept the Chinese yuan instead of U.S. dollars to settle crude oil sales to Beijing, The Wall Street Journal reported. The Kingdom is reportedly in active discussions with China to price at least a portion of its oil sales to the world’s second-largest economy in yuan. In addition,…

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Russian Investors Find Short-Term Solution to Western Sanctions Against Moscow, Expert Says

March 14, 2022
CCPChinaChina Business & EconomyChinese Yuaneconomic sanctionsEuropeforeign exchange reservesInternationalRussiaRussia-UkraineRussia-Ukraine WarRussian banksthe SWIFTUkraineWestern sanctionsWorld
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Converting foreign assets into Chinese yuan assets may be a short-term solution for Russian investors in the wake of Western sanctions against Moscow, according to experts. The exclusion of major Russian banks from the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, shuts them out from the U.S.-dominated international fund transfer system. Although this severely…

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Beware of the Long-Term Implications of a Sino-Russian Alliance

March 4, 2022
Chinese YuanCIPSOpinionRussia sanctionsRussian banksSWIFT banking systemViewpoints
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Commentary As anticipated, Vladimir Putin has invaded Ukraine. As also anticipated, the West has responded with economic sanctions. U.S. sanctions alone include: asset freezes on Russia’s primary financial institutions and key elites; restrictions upon these same banks from making transactions in U.S. dollars; substantial limitations upon debt and equity financing; import and export controls over…

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China’s Currency Weapon a Boon for US

November 29, 2021
AnalysisCCPChinaChina Business & EconomyChinese YuanOpinionThinking About ChinaUS DollarUS-China relations
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News Analysis If China “dumped” all of its U.S. debt and U.S. Treasury bills in a single day, it would lose a lot of money, decrease its ability to purchase raw materials, and benefit the U.S. Fed that would buy up the Treasury bills at a discount. There are five international currencies that central banks…

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Binance to Halt Chinese Yuan Trading Amid Beijing’s Crypto Crackdown

October 14, 2021
binanceBusiness & EconomyChinaChina Business & EconomyChinese YuanCompanies
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SHANGHAI—Binance will stop the use of the Chinese yuan on its peer-to-peer trading platform, the latest move by major global cryptocurrency exchanges to cut their ties with mainland Chinese investors following an intense crackdown on the sector. Binance, one of the world’s largest exchange by trading volumes, said in a Wednesday statement it will remove…

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‘Trojan Horse’: Kyle Bass Warns China Will Use Digital Yuan to Export Tech Authoritarianism

April 9, 2021
ChinaChina-US NewsChinese RegimeChinese Yuandigital currencykyle bassrenminbi
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The Chinese regime is using its new state-controlled digital currency as a Trojan horse against western democracies—and the free world needs to outlaw it, warned hedge fund manager Kyle Bass. “I think that the digital RMB [renminbi] is the largest threat to the world as it exists today,” Bass said in an interview with The…

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Beijing Accelerating Plans to Replace US Dollar as World Reserve Currency: Chinese Professor

April 1, 2021
ChinaChina-US NewsChinese RegimeChinese YuanDi Dongshengdominant currencyeconomyUSUS NewsWorld Reserve Currency
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The Chinese regime is accelerating its efforts to challenge the U.S. dollar’s dominance in global markets and trade by taking advantage of the economic shifts caused by the pandemic, a Chinese professor recently revealed. In the post-pandemic world, China should be the “one who decides the benchmark of value,” Di Dongsheng, associate dean of the…

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