this post was submitted on 02 Feb 2026
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China is on a ‘strong currency’ mission to make the yuan a global reserve: Xi (www.scmp.com)
submitted 4 days ago by yogthos@lemmy.ml to c/economics@lemmy.ml
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[–] hitmyspot@aussie.zone 2 points 4 days ago (1 children)

Haven't china traditionally kept the yuan weak to help exports? Is this a bigger shift than just wanting the soft power from being a reserve currency? They have talked about a transition to consumption based economy. This could be a further step in that direction. It could mean a decrease on cheap Chinese goods, though.

[–] Mangoholic@lemmy.ml 2 points 4 days ago

Or they now also want to have their imperial moment, who knows.