A few months ago, I read an article that mentioned this topic. The author reflects in the article that China plans to expand the use of its fiat currency. This would allow it to be exchanged for gold, not only in Shanghai but also in other places where it has allies, such as in the BIRCS countries. This would give greater confidence to nations trading with China to do so in their local currency, which they could then exchange for gold.
A few months ago, I read an article that mentioned this topic. The author reflects in the article that China plans to expand the use of its fiat currency. This would allow it to be exchanged for gold, not only in Shanghai but also in other places where it has allies, such as in the BIRCS countries. This would give greater confidence to nations trading with China to do so in their local currency, which they could then exchange for gold.