Watch this video as Firstpost explains how Egypt and China have joined forces to ‘ditch the US dollar’. During Chinese President Xi Jinping’s historic state visit to Cairo, China and Egypt officially agreed to bypass the US dollar, settling bilateral trade and investments in the Chinese Yuan and Egyptian Pound. Celebrating 70 years of diplomatic ties, Egyptian President Abdel Fattah el-Sisi welcomed Xi to expand the Suez Canal Economic Zone and broaden their bilateral currency swap agreement. With Chinese investments in Egypt surpassing $10 billion and new African clearing hubs opening direct market pathways, this move directly aligns with the broader BRICS agenda towards global financial multipolarity. However, the strategic pivot defies stern warnings from US President Donald Trump, who has threatened 100% tariffs on nations moving away from greenback reliance. This shift leaves Cairo balancing immediate relief from domestic dollar shortages against growing geopolitical tensions with Washington. Alyson Le Grange brings you more on this story on Firstpost Africa.
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China Egypt Deal | Egypt Ditch US Dollar | Xi Jinping Egypt | China Yuan Trade | US Dollar Dominance | De Dollarization | BRICS Currency | Egypt China Relations | Trump Tariff Threat | Global Currency Shift | China | Egypt | Xi Jinping | Abdel Fattah El-Sisi | US Dollar | De-Dollarisation | Yuan | Egyptian Pound | Currency Swap | BRICS | BRICS Dollar Shift | Suez Canal | Donald Trump | US Tariffs | Firstpost Africa | Firstpost
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