The Dig: Clash of Empires w/ Ho-fung Hung
Jacobin Radio
00:00
Using the Yuan to Replace the Dollar Is a Deal Breaker for Russia and China
The currency is not freely convertible so it is really the kind of a deal breaker for whoever want to settle the trade in the dollar in in the yuan in the Chinese currency. The happy medium that China has been pursuing so far is to use euro actually, says Peter Bergen. Both Russia and China always assume that they can drive a wedge between Europe and the US but now we are in a different world now according to Bergen.
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