This has made imports into the country expensive and could be a trend that only gets worse: that's if rising US protectionism continues to prop up the greenback.
Honestly curious, what do they import besides raw materials and fuel that would cause any real problems in China?
Fear of US sanctions first triggered this pattern among central banks, after witnessing how the West applied dollar restrictions on Russia in 2022.
Honestly curious, what do they import besides raw materials and fuel that would cause any real problems in China?
HAH.
Exactly, and a lot of the resources are imported from friendly countries like Russia that aren't using the dollar.