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U.S. will come to regret holding back China at the IMF

Washington cannot expect Beijing's help with dollar or inflation

| China
The yuan is now the fifth-most used currency for global foreign exchange transactions. In March, China used more yuan in its cross-border transactions than dollars for the first time.   © Reuters

Zhou Xin is senior vice president for public affairs at artificial intelligence-driven molecular imaging company Evomics Medical in Shanghai and executive chief editor of AI community platform The Yuan.

"The dollar is our currency, but your problem," then-U.S. Treasury Secretary John Connally told European finance ministers in 1971.

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