Group 1 - The decline of the US dollar's dominance is evident, with the yuan rising in prominence as a global currency [1][10] - The US's attempt to freeze Chinese assets through the "Stop China-Russia Act" backfired, leading to unexpected reactions from Chinese citizens [1][4] - China's significant holdings of US Treasury bonds pose a risk to Wall Street if sold off, highlighting the interconnectedness of the two economies [1][4] Group 2 - The Cross-Border Interbank Payment System (CIPS) has expanded to 42 countries, covering 38% of international trade, and has recently introduced international letter of credit services [2][9] - The use of the yuan in China-Russia trade has surged, with 99.6% of orders settled in yuan, and Middle Eastern countries are increasingly adopting yuan for oil transactions [4][6] - The BRICS nations are moving away from US influence, with countries like Brazil and India seeking closer ties with China [6][8] Group 3 - The European Union is also shifting towards yuan transactions, with the European Commission expressing intentions to continue using the yuan for settlements [9][10] - The global currency landscape is changing, with the dollar's settlement share dropping below 60% while the yuan's share rises to 5.7% [10] - The financial struggles of Wall Street investment banks are evident as clients demand asset conversions to yuan, indicating a significant shift in investment preferences [9][10]

Group 1 - The article discusses a silent financial revolution led by China, aiming to create a "dual insurance" system to break free from the dollar's dominance, a result of a decade-long effort [1] - The rise of the Renminbi (RMB) is highlighted, with significant developments such as the introduction of RMB-denominated lithium futures and a new oil contract with Saudi Aramco that includes a floating RMB settlement mechanism [2] - The share of RMB in global central bank reserves has doubled to 3.8% over the past five years, with emerging markets like Argentina and Egypt increasingly using RMB for debt repayments [2] Group 2 - China has strategically reduced its holdings of U.S. Treasury bonds, selling $9 billion in May and bringing its total holdings to $756.3 billion, the lowest in 16 years [4] - The country has also significantly increased its strategic reserves, with grain purchases exceeding 400 million tons and a new oil reserve plan aiming to add 8 million tons by March 2025 [4] - The People's Bank of China has been accumulating gold, with total reserves nearing 2,000 tons, representing 6.7% of its foreign exchange reserves, as a strategy to mitigate financial risks [4] Group 3 - The article emphasizes China's technological self-reliance, showcasing its dominance in rare earth processing and the global market share of its electric vehicles and solar components [8] - The narrative suggests that U.S. technology sanctions have inadvertently strengthened China's technological ecosystem, leading to a more robust position in global markets [8] Group 4 - The article posits that the existing dollar-denominated financial products are at risk due to the rising expectations of RMB appreciation, while China has transitioned to a new financial defense system anchored in strategic reserves [9] - The conclusion reflects a shift in global perception of value, emphasizing that true worth lies in tangible assets like food, energy, and technology rather than just currency [9]