Bad News For Xi—Why The Chinese Yuan Will Not Replace The US Dollar As The World's Reserve Currency
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Published 2023-04-13
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All Comments (21)
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A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k
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China never said they want to replace the US dollars, its the world that avoiding using the dollars in their bilateral trades.
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The important point is not Yuan replacing USD as reserve currency, it is that more and more countries are trading without using USD, resulting in a drop in value.
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No nation is wanting to replace the USD world reserve currency status, they just want to trade with their own currency and by pass the USD swift system.
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I cannot recall China had once said it intends to replace dollar by yuen.
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So far , the best strategy is to trade with a professional who understands the market quite well , that way maximum profit is guaranteed
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The yuan isn’t supposed to replace the dollar. Brics is working on making a new currency backed by oil n gold. They don’t need the yuan to be successful
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You are literally Forbes. You are the spokesmedia for the American bourgeoisie. I don't think I would expect you to admit if the dollar was going to fall.
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This is what guys like this don’t get. The Chinese don’t intend to “replace” the dollar. What they want is independence from the political risk they face if they have to deal with the dollar.
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De dollarizing doesn't mean replacing with yuan, just fewer dollars and more trade in other currencies.
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It will be currencies backed by gold and/or other commodities of value that will eventually gain trust as world currency, not some worthless paper.
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It doesn't have to. The world just wakes up and stops using it.
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a bad news for America -- no one's talking abt replace the US dollar with one specific currency
but you will see more and more countries join the dollar-ditching game, and start trading in their national currencies, the dollars will flow back to America -
Chinese yuan will not be number one reserve currency ,but it is US dollar will not remain that Supreme anymore. The US very often used dollar as the weapon
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It doesn't need to replace it. The world need alternatives and options. And that's what the Chinese yuan will provide. What makes it justified for the US to print it's way out of situations and past the inflation to other countries? The days of US hegemony and fiscal recklessness is quickly coming to an end.
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Rather than depending on one currency, the world will move on to multiple currencies for time being. We can see more trade between countries in their local currency. Soon, a common currency might arise with countries coming together like BRICS+.
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I think history reminds us of how great empires have fallen, nothing lasts forever, the Persian empire and the Romans fell...
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countries that suffer american sanctions and threats have started to use Yuan instead of us dollar cuz they are tried of american's self intrests.
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I am Chinese, and this is how most Chinese view recent diplomatic events. China does not seek to replace the dollar, contrary to China's own strategic goal of becoming a communist country requires advanced productive forces, not a strong financial system
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Yes but US dollar will be replaced either way
