Could China's Currency Be The New World Reserve? | Economics Explained

Published 2022-08-15
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Since the end of World War 2 the US dollar has been world reserve currency, this means international transactions are overwhelmingly done in US dollars. This gives the US some key economic advantages. Naturally China wants to make its currency the world reserve currency, and as the second largest economy it makes some sense.

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0:00 - 1:13 Intro
1:14 - 2:00 Morning Brew
2:01 - 3:55 Bretton Woods
3:56 - 5:20 USD as reserve currency
5:21 - 7:00 Advantages of reserve currency
7:01 - 9:00 China's plans
9:01 - 9:47 Belt and road initiative
9:48 - 11:45 Ukraine war
11:46 - 14:47 Problems with the Chinese yuan
14:48 Morning Brew

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