Why China is pushing the yuan's role in global trade
China is making a big push for its currency, the yuan, to play a bigger role in international trade—mainly to cut back on using the US dollar.
With the dollar losing 7% of its value since January and having its worst start to a year since 1973, China sees an opening.
The yuan, meanwhile, has reached its highest level since Mr Trump was re-elected in November and is catching more attention from foreign investors.
China is going all out to boost the yuan
To boost the yuan's global presence, China now does over 30% of its trade in yuan and uses it for more than half of cross-border payments.
They've connected with 1,700 banks worldwide through their CIPS payment system and set up swap deals with 32 central banks.
Plus, projects like mBridge—a digital network—are all about making it easier for countries to use the yuan instead of dollars.