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The Western Russia sanctions have increased the desire for an alternative to the US dollar in many countries, because they also affect the settlement of foreign exchange transactions. This benefits the Chinese yuan (renminbi) on its way to becoming a global currency.
By Experts Table.Briefings
China wants to mediate in Ukraine but continues to stand closely by Russia's side. Wang Zichen of the Center for China and Globalization spoke with Michael Radunski about the reasons behind China's position and what the West could do to get China on its side. One option: Resuming negotiations on CAI. The US, in turn, should change its stance on Huawei and ZTE.
By Michael Radunski