The dwindling importance of the dollar as the world's reserve currency | DW News
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Published 2023-06-14
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#Dollar #Yuan #reservecurrency
All Comments (21)
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GREAT CONTENT: BRIC'S isn't helping matters. According to some analysis, the United States and other regions of Europe may have a recession in 2023. Because China and emerging countries frequently grow faster than more developed economies, a global recession, which is defined as a decline in annual global per Capita GDP, is more uncommon. Fundamentally, if economic growth lag's behind population growth, the global economy is said to be in recession.
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People just don't understand! It's not about one other currency replacing the USD. It's about trading without the USD and using their own currencies, including the RMB when trading with China. By using their own currencies instead of the USD, strengthens their currency and diminishes the US's control over them.
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I mean why not. US otherwise can keep printing as much money as they want without any grave consequences. When other countries do what US did in last few years they would really be in a difficult situation economically.
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Wait a sec. DW germany invites correspondence from Taiwan to talk about China increasing business with south american countries. So DW thinks opinion of a person lives in Taiwan = person lives in China?? This is confusing.
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I'm skeptical. Reports about this on TLDR for example have said basically the opposite about the feasibility of a BRICS currency.
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People that think China is the main competitor to the USD are not realising that the Chinese Yuan is actually the 5tt largest reserve after the USD, Euro, Japanese Yen and Swiss franc
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the chinese can not replace the dollar. China is a net exporter, which means that more money is going into the country than out. So the only way for other countries to build up a reserve of chinese currency is to buy it, which makes the value go up, and that makes chinese products more expensive. There is a good reason why china is often trying to devalue their currency.
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Good news for Africa. Having 2 suitors is better than having only 1. This way poor countries can select the best offer. Sadly corruption may not enable their leaders take the best decisions... But still competition is always good for the consumer.
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It definitely is beneficial for these countries to pay China import with Chinese Yuan. Why not!
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Another clickbait title from DW.. have you guys been taking notes from Fox and CNN?!?🤦♂️🤦♂️🤦♂️
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The economy that you import from the most is also the currency you want the most
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The short answer is the RMB will not be the reserve currency anytime soon, it's like saying that payday loan companies will replace banks. The only people who talk up the yuan or some brics currency aren't talking because they have some financial insight or education but because they just hate America.
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What if China doesn’t allow purchase in dollars due to political and military risk of war with US? What if you pay Yuan you get 10% off, and you pay USD you pay 30% extra for the risk attached? I wonder how countries would choose.
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Given the outlook for the Chinese economy of the next say 10-20 years I would be very hesitant to put large amounts in CNY.
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It seems that anchor's acting in reading news is way more important than news itself
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How can you trust Chinese money if you don’t know nothing about Chinese economy?
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DW News: The dwindling importance of the dollar as the world's reserve currency. USA: Let's print more money!
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Most countries in the world do not want to rely on only one currency. For example, if the United States is in inflation, however other countries have to go bankrupt because they hold US dollars.This is typical event that happens frequently. Linking to a basket of currencies rather than relying solely on the US dollar is the model for the economic security of all countries, especially those weak ones.
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The Yuan is worthless as a reserve currency. The idea that is going to overtake the USD is laughable.
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No thanks
