Toward Decline
As de-dollarisation trends persist, can the yuan take the euro’s place?
South China Morning Post Major outlet·2026-06-10China EconomyP2: Fiscal EngineP5: Strategic Decoupling
Why it matters
Accelerating yuan-denominated settlement in global oil trade weakens US dollar hegemony and reduces US leverage over financial systems critical to regional stability. This shifts the economic terrain on which Australia's fiscal engine and decoupling strategy operate, particularly if energy supply chains increasingly settle in non-USD currencies beyond Australia's direct control.
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