The One Belt One Road contractors that are not Chinese want dollars. https://www.economist.com/business/2017/08/03/western-firms-...
They are using dollars to pay down dollar denominated debt.
https://www.axios.com/china-business-debt-trade-war-yuan-dol...
China’s Banks Are Running Out of Dollars
https://www.wsj.com/articles/chinas-banks-are-running-out-of...
But to contradict myself China has been buying a lot of gold https://markets.businessinsider.com/commodities/news/china-b.... But if they are buying it from Russia then they are probably partly paying in Yuan.
The One Belt One Road contractors that are not Chinese want dollars. https://www.economist.com/business/2017/08/03/western-firms-...
They are using dollars to pay down dollar denominated debt.
https://www.axios.com/china-business-debt-trade-war-yuan-dol...
China’s Banks Are Running Out of Dollars
https://www.wsj.com/articles/chinas-banks-are-running-out-of...
But to contradict myself China has been buying a lot of gold https://markets.businessinsider.com/commodities/news/china-b.... But if they are buying it from Russia then they are probably partly paying in Yuan.