Yuan in the UAE: Beijing's Ambitious Game of Financial Diplomacy China's push for greater economic influence has been marked by a series of strategic moves, one of which has gone largely unreported: a link between Chinese and Emirati retail payment networks.
This development is more than just another incremental step towards internationalizing the yuan; it represents Beijing's attempt to build an alternative financial infrastructure that would reduce its reliance on the US dollar.
The deal, linking China UnionPay with Jaywan, the UAE's national debit card network, comes at a time when the yuan's global footprint faces headwinds.