Can the Chinese Yuan Replace the US Dollar?

Can the Chinese Yuan replace the US dollar? The Future Hegemony of the US Dollar is at risk.
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#china #chineseyuan #usd

[yu-jdjg]

Replacing the US$ with Chinese RMB is not China's intention, it never was. China prefers a basket of currencies for world trade and mutually agreed to currency/currencies between trading partners. But China would not allow the US$ to be used as a weapon to sanction other countries to force them to toe the line

[rubyvolt]

The US hegemony of ARROGANCE and HYPOCRISY has worn itself out and nations are now pushing back. Technology will make this happen SO FAST.

[teofilol]

I don't think China is looking to replace USD with Yuan. The goal is to enable the use of other currencies other than USD and to make it easier for international trade to be conducted away from the US controlled Swift payment system. It's non of US business to permit or forbid trade between everybody in the world.

[Robertgriffinne]

Printed dollars are a data input to the CPI. The CPI print is the feedback loop from printed dollars. Keynesians have been trying for decades to print dollars to create inflation-used as a signal to show the stimulus is working. Then before inflation gets entrenched, deflate by destroying printed dollars. The problem here is the Fed didn’t remove the dollars it printed to stimulate. So the higher prices are here to stay for a while. The dollar strength is transitory. You will see a weak dollar once those bonds the fed has on its balance sheet become difficult to sell as higher yielding assets will be more desirable to investors.

[lincolnteh]

It's good to have several currencies that nations can use to avoid a currency being used as a weapon.

[kamaldaud]

Renminbi:
Avoid The US sanction.
Avoid The US weaponising dollar to punish other countries.

[faronewy]

So fed up with US, the bully...any currency will do...

[sandramenard]

Successful people don't become that way overnight. What most people see at a glance- wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life..

[surajgiri]

It is astonishing to know how one country can accept to use other country's currency knowingly that the other country can print it's currency as much as possible. That country will always have an upper hand.

[JGalic]

There is now a diversity of reserve currencies — these include the US Dollar, Yuan, Yen, Euro, Rouble, Rupee, Sterling, and Australian Dollar. Diversity reduces currency risk.

[Shenzhou.]

During the *19th* century, Britain was world's largest economy and the Pound Sterling became the world's reserve currency
Britain was eventually overtaken by the United States in the *20th* century as the world's largest economy, and the U.S Dollar became the world's reserve currency. Now in the 21st century, China's economy is expected to surpass the United State's someday in the foreseeable future, and that suggests that the Chinese Renminbi could potentially become the next reserve currency.

[dbssdas]

Too much use of sanctions by the US, is just undermining the value of the US dollar. And this is 100% correct that the world is a global economy. No country now, can survive without the other. And yes, US has not actually shot in the foot yet, but yes its almost there. Every country is going to think about its people, no one wants to be dictated by other country about their economic policy. It would be no different from colonization by the British where countries were required to produce goods that would support the British demand, even though the country producing it would be starved to death. And about the sanctions, look at people in Venezuela and decades of suffering of the people of Cuba. Now Biden wants Venezuela to help with the gas prices. Talk about hypocrisy.

[noelborbon]

RMB/yuan is currently the third most traded currency behind EUR and USD as tracked by SWIFT and CHIPS.

More currency swaps with other countries and regions, the more USD will decline it's share.

[dnnetwork]

yes. definitely!!! love china from Philippines 🇵🇭🇨🇳

[venkateshhadlahalli]

India doesn’t depend on Russian wheat!! India is exporting Wheat to most countries who isn’t getting Russian- Ukraine wheat! WTO has restricted India’s export of wheat, if WTO relaxed its restrictions, India has huge stock piles of wheat and can feed every one on this earth at this moment of crisis so that none go hungry because of short supply due to war!

[Shenzhou.]

Ancient China had invented the paper banknote, which spread to the rest of the world having paper currencies of their own.
Now China is rolling out the digital Renminbi, it's only a matter of time that other countries adopt digital currencies of their own.

[Larez]

That's insanity, 80% of the dollars in circulation were printed in the last two years. And the billionaires got the bulk of it.

[bharatkaushal]

The Americans have been exporting their inflation to other countries for a lot of years now.

[worldpeacefromcanada]

Remember my Economic professors at University of Toronto and Calgary both at undergraduate and graduate studies said monopoly is never a good thing. World has grown up to realize that US had been weaponized its economic policies such as sanctions to inflict pains on other nations, believing USA is the SOLE RULER of the world and every other nations must bow their heads to the master. Times had changed. USA must RESPECT and learn to work with other nations and treat them as EQUAL. Americans should not behave like living deep under a “Well” looking at the “Sky” above, and thinking that’s how big the sky and the world are to them.

Americans need to spend some time travelling and living abroad for awhile to experience other cultures. At that time, Americans will be more humble and more positive changes to their domestic and international policies will happened. Perhaps world peace could be achieved.

[Shenzhou.]

Russia is pegging the Ruble to gold and China is backing the digital Renminbi by gold, whereas the U.S Dollar is backed by nothing.