The growing use of China’s yuan across African economies is being framed by some as a challenge to the dominance of the US dollar. But the deeper story is less about replacing the dollar and more about a continent adjusting its financial system to match where its trade is expanding. Africa’s yuan adoption is following the movement of goods, investment and debt, particularly as China strengthens its position as the continent’s largest bilateral trading partner. China-Africa trade increased by nearly 18 percent last year, according to custo
The growing use of China’s yuan across African economies is being framed by some as a challenge to the dominance of the US dollar. But the deeper story is less about replacing the dollar and more about a continent adjusting its financial system to match where its trade is expanding. Africa’s yuan adoption is following the movement of goods, investment and debt, particularly as China strengthens its position as the continent’s largest bilateral trading partner. China-Africa trade increased by nearly 18 percent last year, according to custo