Canada Strikes $1.08B Ship Deal with China — Settled in Yuan, Not Dollars

Canada–China $1.08B Ship Deal — Paid in Yuan, Not Dollars

Canada has just sent shockwaves through global finance with a move no one expected. In a historic $1.08 billion deal, Canada ordered six advanced container ships from China — but here’s the twist, payment will not be in U.S. dollars. Instead, Canada chose to settle the contract in Chinese yuan. This decision shakes the very foundation of the global dollar order, a system that has reigned for almost eight decades. Canada’s choice highlights China’s dominance in shipbuilding, the yuan’s rise as a global trade currency, and the cracks forming in U.S. financial power. From Washington’s alarm to Beijing’s celebration, Canada’s move has triggered debates in Europe, Asia, Africa, and Latin America. Is this the beginning of a multipolar financial era? Join us as we break down Canada’s ship deal, yuan’s rise, and the ripple effects shaking the world. Tags: Canada ship deal, Canada China yuan, de-dollarization 2025.

APA References (5)

Bank for International Settlements. (2024). Currency composition of global payments 2023–2024. BIS.

International Monetary Fund. (2025). Global Financial Stability Report. IMF Publications.

World Trade Organization. (2025). Trends in global shipbuilding and trade settlements. WTO.

Xinhua News Agency. (2025). Canada pays in yuan for $1.08B ship deal. Beijing: Xinhua.

The Economist. (2025). The slow erosion of dollar dominance. Economist Group.

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