Russian billionaire and Putin associate says Beijing’s caution on ending the dominance of the US dollar has frustrated Moscow
“Chinese banks are too dependent upon dollar assets, and they are scared to death to take any risk, but this is reality in China.”
He said that to become a global power, China should also accelerate its efforts to expand a yuan-based debt market to boost international use of the Chinese currency in financial settlements.
Xi Jinping hails ‘lasting friendship’ in talks with Putin
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