China's "yuan diplomacy": A new form of debt trap

Kathmandu [Nepal], April 7 (ANI): China is aggressively trapping countries through "yuan diplomacy" in order to decrease the influence of the US and the dollar. China has managed to convince Brazil, led by radical leftist LuizInacio Lula da Silva, to drop the US dollar in signing a deal, Nepalese media Pardafas wrote.

The latest Sino-Brazilian deal is part of a larger Chinese strategy to decrease the influence of the USD.