$China sees the transition to green energy as a chance to elevate the #yuan and dedollarize key markets
While the US dollar reigns supreme in global finance, especially in commodities markets, China sees an opening to elevate the yuan: the shift to renewable energy.
That’s according to Zongyuan Zoe Liu, a China scholar at the Council on Foreign Relations, who pointed to developments in key resources that are critical for green technologies like EV batteries and wind turbines.
“These policymakers and scholars see the ongoing energy transition as an opportunity for the nation to raise the global standing of the renminbi in commodities markets; to them, there’s no guarantee that the US dollar’s dominance in our current fossil fuel-powered global economy will persist in a decarbonized world,” Liu.
Read more at: https://finance.yahoo.com/news/china-sees-transition-green-energy-213001879.html
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