Market
Chinese Yuan's Global Trade Share Exceeds 5% by End of 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Reports from the International Monetary Fund (IMF) or the Bank for International Settlements (BIS)
Story
African Banks Expand in China as Beijing Promotes Yuan, Facing Trump’s 100% Tariffs on BRICS
Dec 7, 2024, 01:32 PM
In a strategic move to bolster the international use of the Chinese yuan, several African banks are establishing operations in China. This initiative aligns with Beijing's broader goal of promoting yuan-based trade, particularly as it seeks to challenge the dominance of the US dollar. The push for yuan internationalization comes amidst warnings from the United States, where President-elect Donald Trump has indicated plans to impose 100% tariffs on BRICS nations that pursue de-dollarization efforts. These developments highlight a growing trend among African financial institutions to engage more closely with China, reflecting a shift in global economic dynamics.
View original story
Similar markets
7.51 to 7.70 • 25%
Below 7.30 • 25%
7.30 to 7.50 • 25%
Above 7.70 • 25%
More than 15% • 25%
Less than 5% • 25%
5% to 10% • 25%
10% to 15% • 25%
Weakened by 10% or more • 25%
Strengthened by 5% or more • 25%
Remains within 5% of current level • 25%
Weakened by 5% or more • 25%
