The rise of the renminbi.

The article discusses the rise of the renminbi (RMB) as a potential alternative to the US dollar in international trade and finance. While the dollar remains dominant, the RMB's use in global payments and trade finance is growing. The yuan's share of global payments reached a record high, and its share of global trade finance transaction flows surpassed the euro. More corporations are embracing the RMB, and there is increasing interest in settling payments in non-dollar currencies due to geopolitical tensions and concerns about US sanctions. However, the dollar still remains the most efficient and widely accepted currency for international transactions. The article also mentions that Chinese regulators have eased rules around cross-border cash pooling, contributing to the internationalization of the RMB. [Extracted from the article]