Tariffs may encourage more yuan use


A clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. [Photo/IC]

By disrupting global trade and triggering recession risks, the United States' new tariff push may have an unintended result of giving rise to alternative international currencies, including the Chinese renminbi, also known as the yuan, experts said.

"To supply global dollar liquidity, the US must run trade deficits," said Guan Tao, global chief economist at investment bank BOCI China.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Ringgit rises to 3.97 as US-Iran ceasefire lifts market
AI,�eCommerce�tailwinds to buoy logistics sector
Perak Transit names Jeffrey Cheong deputy
EPB eyes transfer from ACE to Main Market
Bus Cap secures Bursa Malaysia nod for ACE Market listing
MM Computer moves forward with IPO
SC appoints Manoj Kurup as executive director for enforcement
Ageing population shifts�the re-rating narrative
Infoline unit to buy RM19mil factories
LSH Capital wins Kuantan road contract

Others Also Read