this post was submitted on 24 Jul 2023
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Not really, this has more to do with its size and the fact that they're forcing themselves on a desperate Russia.
Trade with Russia is not %50 of China's trade. It's much less than that.
This is de-dollarization in motion.
Nobody said it was, but Russia is a major oil supplier to them, it used to be done in US dollars but given the current situation China has been able to force them to use the yuan. Its not like theyre able to pull this off against the major western countries. A lot of their previous yuan based trade was with Hong Kong, North Korea, etc.
And now it's %50 of their trade.