The Start Of De-Dollarization: China's Move Away From The USD

Since 2010, the majority of China’s cross-border payments, like those of many countries, had been settled in U.S. dollars (USD). As of the first quarter of 2023, that’s no longer the case. As Visual Capitalist's Julian Wendling shows in the graphic below, from the Hinrich Foundation, the Chinese renminbi (RMB) is growing in popularity in payments both domestically and globally.   The De-Dollarization of China’s Cross-Border Transactions This analysis uses Bloomberg data on the share of China’s payments…