Why More African Countries Are Switching To Chinese Yuan
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Why More African Countries Are Switching To Chinese Yuan
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About this listen
Chinese mine operators in Zambia started paying royalties and taxes in yuan in Africa’s second-biggest copper producer, the latest sign of the growing acceptance of the currency on the continent.
On this week’s episode, bloomberg reporter Matthew Hill and Bloomberg Economics Africa Economist Yvonne Mhango join Jennifer Zabasajja to discuss why China wants to boost the use of its currency, what’s in it for African countries, and whether there’s a risk of US retaliation
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