Why the Chinese yuan could soon be Africa’s most important currency - South China Morning Post
Why the Chinese yuan could soon be Africa’s most important currency - South China Morning Post
Source: South China Morning Post
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DW NOTE
The yuan already is Africa's most important currency for infrastructure finance — China Development Bank has lent more to African governments since 2015 than the World Bank and IMF combined. The question is settlement: whether African central banks will hold yuan reserves when Beijing still maintains capital controls that make the currency functionally inconvertible in a crisis.