#BizBeat Ep.372: #U.S. economic sanctions backfire on the dollar's dominance

The U.S. dollar accounts for nearly 60% of the foreign exchange reserves of central banks around the world, according to the latest report released by the International Monetary Fund. However, the frequent use of financial sanctions by the U.S., including sanctions on Russia and the freeze of Afghanistan’s foreign exchange reserve have made the dollar less attractive. In this episode of #BizBeat, CGTN's Zhu Zhu argues how the dominant position of the U.S. dollar has been gradually hampered and more countries are diversifying their foreign exchange reserves, with the internationalization of the renminbi becoming a trend.