China runs massive trade surpluses with North America and Europe. Those markets pay in US Dollars or in Euro. Every day China earns about $2.7 billion USD ...
That's definitely the start, seeing it with Afghanistan and Russia made it clear that it could happen, then the decision to finally pull out of Western banks was likely decided because they see the escalation of tensions with them actually leading to something.
That's definitely the start, seeing it with Afghanistan and Russia made it clear that it could happen, then the decision to finally pull out of Western banks was likely decided because they see the escalation of tensions with them actually leading to something.