Pakistan may using the yuan to buy a shipment of Russian crude, another example of international markets moves to replace the US dollar in bulk commodity transactions as a result of the yuan s stability, China s economic strength and concerns about US abuse of dollar hegemony through sanctions, experts said.
China s top leadership affirmed the country s positive economic recovery so far this year while acknowledging new challenges during a meeting convened by the Political Bureau of the Communist Party of China (CPC) Central Committee on Friday, sending what experts said is a rock solid signal that China will continue to support economic recovery with expansive policies.
Chinese central bank officials on Thursday said that there is no basis for long-term deflation or inflation in China and liquidity was reasonably sufficient in the first quarter, in response to claims by some Western media that China is entering a deflationary cycle.
Big banks are putting people and the planet at risk by continuing to finance fossil fuels. Banks lent $684 billion to the fossil fuel sector in 2022, which is inconsistent with the Paris Agreement, writes David Tong.