France is joining China in the movement towards de-dollarization, by promoting the use of the yuan for international trade and investment. The move away from the US dollar is due to the risks of being subject to the whims of US foreign policy, as seen with the imposition of economic sanctions on Russia and other countries involved in the conflict in Ukraine. The recent trade of liquefied natural gas between China and France paid for in yuan is a significant step towards challenging the US dollar’s status as the world’s “petrodollar” for the trade of gas and oil. Watch video to know more.
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