China vs The Dollar: How Trump’s Sanctions Started a Global Money Revolution | Yekare History
[Opening Scene: Yekare History intro animation]
Kelvin Jasi (voice-over):
In the modern world, money isn’t just currency — it’s power. And for decades, the United States has held that power through one thing: the dollar. But thanks to Donald Trump’s sanctions, that power may finally be slipping.
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[Cut to global map animation showing trade routes and the U.S. dollar sign]
When Trump introduced sweeping sanctions and tariffs during his presidency, he didn’t just hurt rival nations — he sent a shockwave through the entire global economy. Countries began to ask: Why do we rely so heavily on the U.S. dollar?
At the center of that question stands China — with a quiet but powerful plan. Beijing is on a mission to make its currency, the yuan, a true global competitor to the dollar.
[Transition to graphics showing China, Japan, and South Korea]
First, China began negotiating currency swap agreements with Japan and South Korea — both key U.S. allies. A currency swap allows nations to trade in their own currencies, cutting out the dollar entirely.
Beijing pitched the yuan as more stable and less political — a subtle jab at U.S. financial dominance. Even America’s allies, tired of trade wars and sanctions, began to listen.
[Cut to visual of Africa and Asia with loan charts]
Next, China turned to debt diplomacy — offering loans in yuan instead of dollars. Countries like Ethiopia and Kenya jumped on board.
Kenya alone saved over $215 million by switching a Chinese railway loan from U.S. dollars to yuan. Others — like Sri Lanka, Hungary, and Kazakhstan — have followed, taking on new projects in Chinese currency.
So far, global yuan loans have doubled, hitting nearly $10 billion this year. Every deal like this strengthens China’s grip — and weakens the dollar’s dominance.
[Cut to world trade chart animation]
Today, the yuan makes up 8.5% of all global trade transactions, right behind the British pound. And while the dollar still rules, China is playing a long, patient game.
Beijing’s message is clear: The world should not rely on a single currency.
In the words of China’s central bank governor, “The world is moving toward a multi-polar currency system.”
[Cut back to Kelvin Jasi]
So, is this the end of the dollar’s reign? Not yet — but for the first time in modern history, it’s being seriously challenged.
History reminds us: no empire lasts forever — not even financial ones.
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