China Aims to Increase Yuan's Global Role Through Green Energy Commodities
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Chinese policymakers see the global transition to renewable energy as a chance to increase global use of the yuan currency in commodities markets.
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China has established several commodity exchanges, like ones for rare earth metals, where prices are quoted in yuan instead of dollars.
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Through groups like BRICS and the Shanghai Cooperation Organization, China aims to reduce the dominance of the US dollar in global commodity trade.
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These partnerships give China more influence in commodity markets essential for green technologies, as member states are major producers.
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Although not aiming to completely replace the dollar, if the yuan gains global status it would reshape global trade and geopolitics.