https://www.scmp.com/rss/523630/feed Mark Lam Pui Chung is head of cross-border trade, Europe and China, at Ebury, bringing over two decades of front-office experience. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Mark Lam Pui Chung Mark Lam Pui Chung For decades, cross-border trade in the Asia-Pacific has been denominated in US dollars. Given the currency’s relative stability and accessibility, small and medium-sized businesses, merchants and manufacturers looking to expand across borders traditionally conducted international trade in the US dollar. For instance, a Shenzhen manufacturer in China paying its Indonesian supplier would convert yuan to US dollars for the payment, which when received will be converted to Indonesian rupiah, and... https://www.scmp.com/opinion/asia-opinion/article/3327285/why-asia-pacific-rewriting-terms-trade-dollar-yuan?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3327285/why-asia-pacific-rewriting-terms-trade-dollar-yuan?utm_source=rss_feed Thu, 02 Oct 2025 01:30:08 +0000