Renminbi

China may be the biggest winner from UAE’s OPEC exit

The true drivers of the UAE’s decision to exit OPEC hinge on the shifting alliances of the Arabian peninsula, centred on the rivalry between Saudi Arabia and the UAE, says Middle East Institute-NUS fellow Jing Lin. China stands to benefit, not only in oil supplies but in wider aims like the internationalisation of the RMB — but only if it plays its cards right in balancing between the two regional heavyweights.

Jing Lin

13 May 2026

Is the Iran war weakening the dollar’s grip and lifting the RMB?

Geopolitical shocks from the Iran conflict are straining dollar dominance, as Gulf states explore swap lines and oil trade shifts toward alternative currencies, including the RMB. But questions remain over whether China’s currency is ready for a bigger global role. Lianhe Zaobao associate China news editor Sim Tze Wei dives in.

Sim Tze Wei

05 May 2026

How the RMB is taking over the dollar’s role in global trade

Despite years of slow progress, the RMB is now the world’s second largest trade finance currency and third largest payment currency, according to the People’s Bank of China. Officials say the current climate offers a rare opening to accelerate its rise — especially as countries and corporates seek alternatives to the “weaponised” dollar.

Caixin Global

12 Sep 2025

Global trade in flux: What the weakening dollar and RMB mean for the world

Depreciation of the renminbi (RMB) may not help China’s RMB internationalisation efforts, while a depreciating dollar has also made US debt less attractive to foreign investors and heightened the risk of renewed inflationary pressures. NUS academic Xu Le examines the impact of Trump tariffs on the RMB and US dollar.

Xu Le

29 Jul 2025

Milei’s China promise: When will the visit happen?

Argentinian President Javier Milei has shown that he is prepared to deal with China on friendly terms, even as it aligns with the US, and has said that he will visit China soon. Academic Antonio C. Hsiang takes a look at what this means for Argentina-China relations.

Antonio C. Hsiang

12 Feb 2025

US Fed interest rate cut will prompt RMB appreciation

Chinese academic Zang Shijun says that the recent rate cut by the US Federal Reserve could lead to a chain reaction, in particular the strengthening of the renminbi.

Zang Shijun

01 Oct 2024

Could de-dollarisation develop into an irreversible historical trend?

Zhang Yugui, dean of the School of Economics and Finance at the Shanghai International Studies University, notes that while the renminbi has gained traction as a global currency for trade settlements, investment and as a reserve currency, the US dollar will still maintain its hegemony until 2030. However, the US is most worried that de-dollarisation could develop into an irreversible historical trend.

Zhang Yugui

10 Jan 2024

De-risking too: The world's efforts to de-dollarise

Despite all the talk of de-dollarisation and some movement towards it, the US dollar remains the dominant global currency for now, and it will be an uphill task to shift away from it. Lianhe Zaobao correspondent Lai Oi Lai speaks to academics and financial experts to find out more about the world's pursuit of de-dollarisation as a way of risk management.

Lai Oi Lai

19 Jun 2023

RMB internationalisation growing in momentum with possibility for new currency

With an increasing number of countries and groupings being open to making trade settlements in currencies other than the US dollar, de-dollarisation has gained some momentum and this may also aid China's efforts for RMB internationalisation. But China may have no intention of letting the RMB replace the US dollar. In that context, would a new "BRICS currency" be better fit for purpose?

Xu Le

23 May 2023

The US's dilemma: Dollar dominance or re-industrialisation

In response to former US President Donald Trump's recent scare about China trying to "displace the US dollar as the number one currency throughout the world", academic Han Heyuan says that a certain equilibrium is maintained by the US suffering a trade deficit but safeguarding dollar hegemony. If the US wants to bring manufacturing back to the US, it may not be able to export dollars the way it used to, and cannot hope for the dominance of the US dollar to hold.

Han Heyuan

15 May 2023

Malaysia resurfacing the Asian Monetary Fund: Will the idea take off this time?

An Asian Monetary Fund was first mooted by Japan during the Asian Financial Crisis in the late 1990s, but did not quite take off then. Now, with Malaysian Prime Minister Anwar Ibrahim resurfacing the proposal during his recent trip to China, is the prospect of an AMF more likely today than it was 26 years ago?

Benny Teh, Law Chee Hong

09 May 2023

Chinese academics: China-Russia relations are reaching new heights

Rather than the old "forced friendship" marked by "warm politics, cold economics", China and Russia's relationship has evolved to a new phase powered by strong internal dynamics manifesting political and economic warmth.

Guo Bingyun, Qin Hong

02 May 2023