Why China’s yuan needs Hong Kong to reach new international heights

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Why China’s yuan needs Hong Kong to reach new international heights - SCMP

Quick Summary:

Doubts about the dollar’s supremacy present a unique opportunity to accelerate the yuan’s internationalisation.

This urgency to “de-dollarise” dovetails with China’s effort to internationalise its currency, a strategy that dates back to the 2008 financial crisis and aims to mitigate risks and assert financial independence amid escalating Sino-American decoupling.

Read part one and part two.