Russia's growing use of China's yuan is no threat to the dollar, and it could end up hurting Moscow's economy, think tank says

Feb 8 2023 by Business Insider

 
Chinese President Xi Jinping with Russian President Vladimir Putin.

REUTERS/Wu Hong/Pool

Russia's growing use of the yuan could end up backfiring on Moscow, said the Carnegie Endowment for International Peace. China's yuan is also unlikely to displace the US dollar in global finance, the think tank added. "This means that Beijing can't really help Moscow in its crusade against the dollar."

Russia's growing use of China's yuan could end up hurting Moscow, which won't get help from Beijing in...

Continue Reading Russia's growing use of China's yuan is no threat to the dollar, and it could end up hurting Moscow's economy, think tank says