China is building up its ‘shadow reserves’ to counter its reliance on the US dollar

China is building up its ‘shadow reserves’ to counter its reliance on the US dollar

A Chinese bank employee counts 100-yuan notes and U.S. dollar bills at a bank counter in Nantong in China’s eastern Jiangsu province on August 6, 2019.
STR | AFP | Getty Images

China is heavily exposed to the U.S. dollar, but now, with the risk of “decoupling,” Beijing is silently diversifying its reserves to reduce its dependence on the world’s largest reserve currency, analysts say.
Ongoing…

View On WordPress