China and Europe have sought to reduce their reliance on the US dollar to minimise disruptions to their trade and investment activities. Photo: Reuters
As US economic clout diminishes, China and Europe work to cut dollar reliance
- The European Union is aiming to boost the role of the euro in international settlements, making it less dependent on the US dollar system
- With US economic dominance in slow decline, Europe like China is trying to strengthen its position in a multipolar world, analysts say
China and Europe have sought to reduce their reliance on the US dollar to minimise disruptions to their trade and investment activities. Photo: Reuters
