As of September 2023, the Yuan surpassed the Euro to become the world's second-most used currency in SWIFT trade settlements, accounting for 5.8% of international payments. This shift reflects China's growing economic power and efforts to internationalize its currency thanks to BRICS. This recent progress highlights the Yuan's growing significance in global trade and finance, illustrating the Chinese economy's advance over its European counterpart. In this video, we will explore the current state of two major currencies: those of China and the European Union. We'll look into the strategic plans both regions have for their currencies' futures and examine how China's membership in BRICS has enhanced its role in global trade.
