The Economist reports: “China is ditching the dollar, fast”.
Over 30% of China’s trade in goods & services is now done in its own currency, RMB.
China settles over 50% of its total cross-border receipts (including financial flows) in yuan, up from less than 1% in 2010.
Because it always followed class interests of the capitalists, and they wouldn’t ditch such a useful thing.
Yeah, that’s about what I’d say as well. I was joking a bit there.