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China and the U.S. compete to be the world’s largest economy, but the dollar dominates the yuan as a currency. peng song/Moment Collection/Getty Images

War in Ukraine might give the Chinese yuan the boost it needs to become a major global currency – and be a serious contender against the US dollar

Despite China’s economic power, the yuan lags as a major global currency. Here’s why current US interest rates and sanctions on Russia may change that.

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