This could spell the end of the US dollar as the medium of exchange between China and Pakistan which are planning to establish a $57 billion economic corridor.

Pakistan says it will be replacing the US dollar with the Chinese yuan in bilateral trade with China.

Russia plans to sell equivalent to $1 billion in yuan-denominated bonds to attract Chinese investments in a strategy meant to cushion it against possible US sanctions on its sovereign debt markets.  

China has reportedly completed its fifth dry run in yuan-backed oil futures contract trading thus moving closer to a revolutionary plan for the internationalization of its currency.

Removing the dollar in Iran-China trade was on top of the agenda of the recent visit to Tehran by Chen Yuan, a former key banker and the current vice-chairman of the Chinese People's Political Consultative Conference.  

Russia says it plans to extend for another three years an agreement with China to trade in their mutual currencies. 

China’s foreign exchange reserves dropped by $320 billion in 2016 with Chinese authorities seeking to support the yuan against a soaring dollar.

Trump has gone on another one of his infamous Twitter rants, this time against China.

Concerns are rising in Iran that the falling value of the Chinese yuan could make imports from the country more expensive.

Iranian officials say talks have started with China to use a currency swap mechanism in trade transactions between the two countries.