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China’s yuan gains foothold in iron ore deals, could increase Chinese self-reliance, analysts say

Summary:
[unable to retrieve full-text content]Iron ore miners‘ and steel producers’ increasing use of the Chinese yuan will increase its internationalisation, reduce China’s vulnerability to any possible US financial sanctions, and help the domestic economy in line with the new “dual circulation” strategy.By using the yuan rather than the US dollar to price iron ore, this will increase the internationalisation of the Chinese currency and so reduce China’s vulnerability to any possible US financial sanctions.Using the yuan for domestic…

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[unable to retrieve full-text content]
Iron ore miners‘ and steel producers’ increasing use of the Chinese yuan will increase its internationalisation, reduce China’s vulnerability to any possible US financial sanctions, and help the domestic economy in line with the new “dual circulation” strategy.By using the yuan rather than the US dollar to price iron ore, this will increase the internationalisation of the Chinese currency and so reduce China’s vulnerability to any possible US financial sanctions.Using the yuan for domestic…

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