China backs Russia-proposed BRICS payment system
www.voanews.com
Analysts say China is interested in using alternative payment system to challenge the current system dominated by the US dollar
  • Flying Squid@lemmy.worldMEnglish
    1·
    23 days ago

    Didn’t the Euro even start as being pegged to the dollar at 1:1 to stabilize it in the beginning? Or am I misremembering?

    • Pringles@lemm.eeEnglish
      4·
      23 days ago

      No, not the euro, but China did peg the Yuan to the dollar for years to ensure their exports remained cheap.