logo
episode-header-image
May 2023
27m 28s

China Wants The Yuan To Rival The Almigh...

Bloomberg and iHeartPodcasts
About this episode

The US dollar is the world’s most-used currency for global transactions. Now China aims to elevate its currency as an alternative. Over the past year, President Xi Jinping's government has struck deals linked to the yuan stretching from Russia and Saudi Arabia to Brazil and even France.

Bloomberg reporter George Lei joins this episode to talk about how China’s efforts to create a rival to the dollar are going so far–and its goals for the future. And reporter Rebecca Choong Wilkins walks us through the geopolitics contributing to this currency competition.

Read more: China Takes the Yuan Global in Bid to Repel a Weaponized Dollar

Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK 

Have questions or comments for Wes and the team? Reach us at bigtake@bloomberg.net.

See omnystudio.com/listener for privacy information.

Up next
Yesterday
All Eyes on Japan and China Tensions After Taiwan Remark
<p>After a rare public comment on Taiwan from Japan&rsquo;s new prime minister, Sanae Takaichi, relations between the two nations are at a historic low &mdash; and Beijing is ramping up its economic retaliation.</p> <p>On today&rsquo;s Big Take Asia podcast, host Oanh Ha talks wi ... Show More
17m 50s
Yesterday
Inside Trump’s Retribution Campaign
<p>On Monday, a federal judge threw out the criminal cases filed by the Department of Justice against former FBI director James Comey and New York Attorney General Letitia James.</p> <p>When President Trump took office in January, he made it clear that retribution against his per ... Show More
19m 37s
Nov 24
Checking the Math on Trump’s $2,000 Checks
<p>Under new pressures over inflation and affordability, President Donald Trump has been talking up a plan to share tariff revenues with Americans, in the form of $2,000 checks. But there are several major problems with this plan &mdash; and he&rsquo;s lacking support among some ... Show More
18m 9s
Recommended Episodes
May 2024
It’s all about the dollar
<p>The US Supreme Court rejects an existential legal challenge to the country’s top consumer finance watchdog, a $10bn US property fund is running low on liquidity as investors demand their money back, and Russia and China agree to tighten military ties and deepen their economic ... Show More
10m 42s
May 2024
De-dollarization: China drops US Treasury bonds, instead buys gold, oil, metals
China is reducing its holdings of US Treasury securities. Instead, the People's Bank of China is buying gold, and Beijing prioritizes imports of important commodities like oil and metals. Ben Norton discusses the geopolitical impact of de-dollarization in the world's largest econ ... Show More
19m 36s
Feb 2022
How bad could China-US relations get? With Rana Mitter
This week marks the 50th anniversary of President Richard Nixon's visit to China. In 2022, there are warnings the US and China are entering a new Cold War, while the latter's relationship with Russia is strengthening. The New Statesman’s senior editor of China and global affairs, ... Show More
23m 33s
Sep 2023
China's boom changed the world. Now, it faces a slump
As Canada deals with high inflation and a housing shortage, the world’s second-largest economy is grappling with a nearly opposite reality. China has been booming for over 40 years as Beijing invested heavily to build up the country. But now, demand for housing is sinking amid ov ... Show More
22m 15s