China has long tried to undermine the US dollar’s dominant role in the international monetary system, despite the fact that the bulk of its reserves are in dollar-denominated assets. Photo: Reuters
China has long tried to undermine the US dollar’s dominant role in the international monetary system, despite the fact that the bulk of its reserves are in dollar-denominated assets. Photo: Reuters

US-China decoupling: is Beijing ramping up its diversification away from the US dollar?

  • US-China frictions and the threat of American financial sanctions have renewed debate in Beijing about reducing dependence on the US dollar
  • China cut its holdings of US government debt to US$1.07 trillion in late August, the lowest level since March 2017, the US Department of Treasury says

China has long tried to undermine the US dollar’s dominant role in the international monetary system, despite the fact that the bulk of its reserves are in dollar-denominated assets. Photo: Reuters
China has long tried to undermine the US dollar’s dominant role in the international monetary system, despite the fact that the bulk of its reserves are in dollar-denominated assets. Photo: Reuters
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