Breaking The Dollar Spell By Dealing In Chinese Currency | Pakistan & China Bond Over CPEC

Published on November 5, 2019

Pakistan’s economy has been suffering for a while with the price of Dollar reaching new heights. In order to break the spell of Dollar, Pakistan and China have decided to conduct all their business dealings including CPEC, in Chinese currency Yuan. One of the banks in Pakistan has acquired the license for Chinese currency as well. The cold war between US and China has resulted in China dealing in Yuan with several other countries. It is speculated that China will be able to bring the influence of US Dollar down as it gains more economic power in the world.

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