China and Europe have sought to reduce their reliance on the US dollar to minimise disruptions to their trade and investment activities. Photo: Reuters China and Europe have sought to reduce their reliance on the US dollar to minimise disruptions to their trade and investment activities. Photo: Reuters
China and Europe have sought to reduce their reliance on the US dollar to minimise disruptions to their trade and investment activities. Photo: Reuters
Diplomacy

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

Topic |   Diplomacy
China and Europe have sought to reduce their reliance on the US dollar to minimise disruptions to their trade and investment activities. Photo: Reuters China and Europe have sought to reduce their reliance on the US dollar to minimise disruptions to their trade and investment activities. Photo: Reuters
China and Europe have sought to reduce their reliance on the US dollar to minimise disruptions to their trade and investment activities. Photo: Reuters
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