Chinese Yuan Overtakes Euro: BRICS smashes Europe in Economy

As of September 2023, the Yuan surpassed the Euro to become the world s secondmost 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.