Exactly- most nations have a trade deficit with China. This is a large part of how the US gained monetary hegemony when post WW2 USA was dominant as a manufacturer and most nations had a trade deficit with the US. Today China fills that role of dominating trade and manufactured goods and purchase of commodities. Paying in Yuan and receiving Yuan makes sense when China is your largest trade partner...as it is with 120 nations now.
Exactly- most nations have a trade deficit with China.
This is a large part of how the US gained monetary hegemony when post WW2 USA was dominant as a manufacturer and most nations had a trade deficit with the US.
Today China fills that role of dominating trade and manufactured goods and purchase of commodities.
Paying in Yuan and receiving Yuan makes sense when China is your largest trade partner...as it is with 120 nations now.