How does China's extravagance in buying gold affect the dollar? The American network "Sianbis" wrote: China's decades-long effort to globalize the "yuan" has gained new speed with the gradual development of Hong Kong on its way to becoming a gold trading center based on China's national currency. The Chinese yuan plays a small part in international transactions that take place in the financial system dominated by the US dollar, but analysts expect this situation to face major changes in the near future. Beijing's massive purchase of gold and the launch of the Hong Kong trading platform are the latest steps in expanding global use of the yuan.
Irna Jahan