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​A Chinese clerk counts RMB (renminbi) yuan banknotes at a bank in Lianyungang city, east China's Jiangsu province, on Aug. 11, 2015.
Analysis

Is China’s currency coming for the US dollar?

On Saturday, Chinese President Xi Jinping made it public: he wants the renminbi, China’s currency, to replace the dollar as the global reserve currency. But is this even possible?

Chinese Yuan banknotes are seen behind illuminated stock graph in this illustration taken February 10, 2020.
China

China takes on a trillion yuan debt

On Tuesday, China approved a 1 trillion yuan ($167 billion) increase in sovereign debt in a rare midyear budget reassessment as sluggish growth and local governments’ lopsided balance sheets pose major challenges for Beijing.