Friday, May 24, 2024
Focus on the big picture

Can Russia and China succeed in dethroning the dollar? | Counting the Cost

Al Jazeera, 01 Apr 2023
Since being shut out of much of the global financial system, Russia has sought alternatives to soften the effects of Western sanctions.

It has turned to China for an economic lifeline and has been increasingly embracing the yuan.

Trade between the two countries hit a record of $190bn last year, with much of those payments made in Chinese and Russian currencies.

The two biggest geopolitical rivals of the United States want to counterbalance the dominance of the dollar worldwide.

Elsewhere, Ukraine has won the IMF's first loan to a country at war.

Subscribe to our channel http://bit.ly/AJSubscribe
Follow us on Twitter https://twitter.com/AJEnglish
Find us on Facebook https://www.facebook.com/aljazeera
Check our website: http://www.aljazeera.com/
Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/

@AljazeeraEnglish
#Aljazeeraenglish
#News
Related Articles