The yuan’s the new dollar as Russia rides to the redback

MOSCOW/SHANGHAI¬† – Chinese entrepreneur Wang Min is delighted about Russia’s embrace of the yuan. His LED lights company can price contracts to Russian customers in yuan rather than dollars or euros, and they can pay him in yuan. It’s “win-win”, he says. Wang’s plans have been transformed by the conflict in Ukraine and the subsequent … Continue reading The yuan’s the new dollar as Russia rides to the redback