Europe's central banks are starting to replace dollar reserves with the yuan



Late last year, China’s Xi Jinping said it was time for the nation to “take center stage in the world.” There are many ways for China to do this, including promoting globalization, boosting foreign aid, and developing advanced technologies. Another critical step in taking “center stage” is to be at the center of the global economy. To achieve this, China is, among other things, trying to internationalize its currency.

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