The dwindling importance of the dollar as the world's reserve currency | DW News
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- Опубліковано 27 вер 2024
- China is Argentina’s biggest trading partner. The impoverished country agrees with Beijing to buy imports in yuan, to help shore up its dwindling dollar reserves. We speak to Taipei correspondent Tsou Tzung-han on the broader meaning of the Dollar's dwindling dominance.
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#Dollar #Yuan #reservecurrency
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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.
But you ignored the fact that the Yuan is more rampantly printed than USD lmao like 1.8+ times of China's GDP vs 0.84 times of US GDP. How ignorant! Sometimes, the fools just like to make a fool in front of the world.
Sorry but you don't understand what we did.
Even without being the reserve currency of the world we can still print as much as we want. Our stock market ($40-$90 trillion deep), consumer base (70% of our economy) and military (needs no summary) allows for it regardless. Idk why this lie is peddled so much. Its like our adversaries aren't paying attention.
@@taylormattlock5433 Look at you pretending to understand economics or how to run a country. What nonsense you spout all your facts are wrong and all you assumptions false. What a conman you are.
@@taylormattlock5433 The US has the money. Global South has the resources. China has the manufacturing. The world is suddenly realizing that the US has neither the resources nor the manufacturing, and that the world can just trade with each other and bypass the United States. Gonna be a tough time for whyytte nations.
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.
The Yuan can't even be traded on the global currency market, so it's a bit like bitcoin hanging in a cloud
They can't, even China doesn't want you use their currency. Also, small nations are importer of goods not exporters. So you can't buy anything with a local currency. Bottom line you don't make anything that other countries want. Even other countries don't like having Saudi Arabian currency in their banks because their not much you can do with it unless you buy oil only from them. So China I know does have some Saudi Arabian currency but not much.
@@marctemura2017
Nah, they accept yuan. 😁
@@marctemura2017
You can pay RMB for Road, train, train, dam, power station, cars, ships, gold, and even nuclear reactor etc
the reason trades are done in USD is because you need a stable currency. Who wants to take Argentina Peso when it has hyper inflation?
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.
same thing,same people,
you hit the point
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.
😂 nah fam 2 "masters" is just more work.
Nothing has ever changed in Africa. Cultures are too backwards to ever be stable
@@trowawayacc Nope; 1 master is a take it or leave it situation-the master controls the terms. 2 suitors is a whoever gives me more; I will choose- the customer chooses who to pick. The more choices you have, the better it is for you.
It would be a good message for us in Eastern Europe too, but we had been cut from trading with China in many sectors bc of our Yankee master
Brics+🇨🇳🇷🇺Saudi Arabia UAE Plus all members 👍❤
G20 meeting in August, South Africa 👍
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
The problem is not about the amount in reserves, but the cost of imports. Chinese Yuan is cheaper alternative for developing countries looking to purchase imports without depreciating the value of their currency.
At 2.69% slightly above #6, the Canadian dollar at 2.38%.
USD - 58.36%
Euro - 20.47%
All numbers from 2022.
Looks like a long way to go, up to the top.
Well China is the second largest economy after the United States so it only makes sense
@@davieskiplagat5400 I don’t understand what you mean, the price is the price, weather dollar or Yuan or Euro denominated. How does using the dollar depreciate a local currency?
@@moazim1993 high cost of imports in a country makes its currency lose its value since it has to purchase more foreign currency (dollar) used for trade.
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.
You forget that the RMB does not float on the open market. Its exchange rate is strictly controlled by the central government.
copium.. i dont love the chinese but you have to see the writing on the wall.
China doesn't allow countries to use their currency in trade. Russia trade to use the Chinese Yuan in Africa and they said "No".
@@notarmchairhistorian7779 it is not copium, it is reality. I work in a field that is mostly dominated by chinese imports. But last year when the Euro decreased in value, our products became cheaper than the chinese imports for the first time ever. China needs the value of their currency to be low to be competitive.
And no bank wants to have a large reserve of a currency that gets devalued, currency is an asset.
You are confusing dedollarisation with RMB internationalisation. RMB will not replace the USD, but USD will no longer be the dominant currency for international trade. Unlike the USD which is a fiat currency, the new BRICS currency is backed by gold.
The demise of the petrodollars is nigh as more and more OPEC countries join BRICS and use BRICS currency for oil settlement.
The Yuan is worthless as a reserve currency. The idea that is going to overtake the USD is laughable.
Nothing stays the same forever, so it's equally laughable to think that the USD will remain a reserve currency forever. You KNOW that's not true, but what will replace it, if anything , is what no one knows.
Nah the Yuan with all its capital controls is not and will it ever be trusted for large trading.
@@justforviewing2 keep dreaming of world domination. Now go get that 50 cents and your daily dose of Xi thoughts 😂
@@justforviewing2 like how? lmao, please get some financial education before you make yourself a fool again.
China has better economy, doesn't use sanctions against other countries and is the main trade partner for half of the World. Are you sure about "laughable"?
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.
It's sooner or later.
And your precious America hates everyone
Argentina is a very bad example. They are currently a socialist dictatorship under heavy sanctions. Most of their people can barely afford food much less washers and dryers.
They are not a dictatorship, more democratic than US or Germany, but yes they are under economic war by the US precisely because they have democratic control over their own country as opposed to being US vassal dictatorships masquerading as democracies like European countries are.
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.
By 2030 it will surpass the Amerikkk4ns and by 2050 China will ha e 2x the size of the economy of the terrorist US.🤣🤣🤣
Seen the same futurists predict the collapse of China's economy for 15 years. Any country that has a people who value education and hard work is going to prosper.
Given the same outlook for US, I would rathar invest anywhere BUT USD
It's a long-term project, Western dog. China, guarded by heaven dragon. I read you fortune, cookie say, "Your dog meat will be sour like bat juice"
@@ciybersal9833- the US as the dominant currency manipulate the market far better: for now, the dollar is a much safer bet
No thanks
DW News: The dwindling importance of the dollar as the world's reserve currency.
USA: Let's print more money!
oh ya but who is printing more money than USA at 0.84 of it's GDP? You will be amazed, it's you, the Chinese printing Yuan at 1.8+ of your GDP. 😅🤣
@@crystal2484 Who? Me? Wow thanks, I wish I can print money LOL.
@@williamlai29 You, the Chinese! Is your language skill that poor that you can't understand a generalise term?
Listen if I can pay in RMB at the Chinese restaurant, that will just make the dining experience all the more authentic. It's a net win in my book if you ask me.
Why should the entire world be dependent on just one currency for economic activity? Such a dependence will cause the US dollar to rise even more thereby decreasing the value of every other currency of the world. And when domestic currencies depreciate due to a rising dollar, it will cause high inflation in other countries. Hence it's high time the world demanded and started using multiple reserve currencies which will put stabilize their economies by bring down inflation due to a depreciating dollar. If countries want inflation to go down, then dollar has to depreciate, never increase in value.
The US did not ask you to depend on it. They made their currencies just like everybody else but everybody decided to use their currency so they just let everybody use. So stop being the ingrate when u haven't even figured what happened.
U probably aren't aware of the high inflation, economic and other issues affecting the developing countries because of the rising dollar. Ignorance cannot be an excuse. So do deep research on the economic problems affecting all countries due to the rising dollar.
@@eskutts BTW, I think the ignorant you mean DEVELOPED countries that the giant toddler "DEVELOPING COUNTRY" is clinging on to? You can't even get the correct terms LMAO!
@@crystal2484The US made Saudi Arabia to accept only dollars for its oil back in the 70s because the U.S. wanted the dollar to be the global currency, so it forced oil importing countries to always have dollar reserves if they wanted oil, that’s how the U.S. indirectly forces other countries to use the U.S. dollar, why do you think the U.S. is always very careful not to criticize Saudi Arabia too much, a good example is when Donald trump ignored the murder of jamal kashioggi, because the US knows that it’s currency can only continue to be used for global trade as long as Saudi Arabia continues to accept it as means of payment for its oil, if let’s say Saudi Arabia and other opec countries woke up tomorrow and said, we will now only accept Chinese yuan or x currency for our oil, then there would be no need to countries to store dollar large amounts of dollar reserves, oil is the most important commodity on this planet, and it’s the number one reason other countries keep dollar reserves
How can you trust Chinese money if you don’t know nothing about Chinese economy?
Because all the things that you buy said 'Made in China'
If suddenly there is a war between the US and China, and USD is not accepted in China and Yuan is not accepted in the US, I will absolutely be better off having Yuan. There is nothing I can buy from the US. Even my American brand IPhone is made in China.
Now the Us won't have sth to blackmail people with
This rings like a comercial for abandoning the dollar.
BRICS currency can dislodge Dollar
Argentina is desperate for a monetary rescue. The PRC will accommodate if you fall in line.
Argentina is debt trapped by US long time ago. It's almost beyond rescue.
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.
true but it is a lot easier and and more predictable. well unless its china as the CCP actually controls the economy of the yuan instead of the markets like the dollar.
Brah, the only thing that will happen is that if you use someone else's currency unlike the United States that country will steal all you money. LOL 🤣
@@mandarinandthetenrings2201 What you said also includes the United States, and always happen. the United States is/was also engaged in currency wars against countries that it did/does not like, directly embezzling assets
@@Wiers75q I don't think you understand where world is at. Right now Iran is being killed, killed by "Heroin" and Saudi Arabia by "Cot". Russia and China bury such things they don't know how to deal with illegal drugs and treatment for the people especially. Did you know that Iran burned quarter of billion dollars in "Heroin" and still a "tide wave of Heroin" is pouring over the border with Afghanistan they can't stop it. Iran has the most "junkies" in world period. So what you want to do "Player"?
@@Wiers75q There are over 30 country on brink of massive starvation because of "climate change". America's IMF (International Monetary Fund) has loaned money to keep them from starving but they have burn through 90% of that money. So "Player" what you want do? You going to raise taxes in your country to help them out?
BRICS currency on pipe line as the new reserve currency , the weaponisations of dollar was the wrong move period .
Seems Deutschland bet on the wrong horse. Oh i forgot that they had no choice.
It seems that anchor's acting in reading news is way more important than news itself
Elvis has already left the building .the dollar is in a free fall Kenya's president said Africa should trade in its own currency .BRICS is the way to go .Africa is with Brics the west days of using militarism is over the world is shifting from west to east
Welcome to multipolar world....
i think you mean "welcome to the new cold war".
@@thegreatdane3627 NON, US is now weaker!.
🙂US vassals still support the unipolar.....
@@topweddingsa4059 it's a new cold war, and every country will have to choose a side or be neutral. It means less global trade and cooperation, and more wars. Neutral countries will be potential battlegrounds for proxywars. We have seen it all before.
Thanks from USA, Chicago, IL
Why do these channels keep pushing this false narrative
Not surprised, even a broken clock is right twice in 24 hours DW being Truthful 😮😅
You're asking too much for the CNN team B
BRICS currency: 50% gold, 25% Yuan, 10% Rupee, 7% Ruble, 7% Real, 1% Rand
I don’t understand why that question isn’t asking to a Chinese person in Benjin?
the yuan is worthless when the government can change the value at a whim. I recall when everyone was saying the Euro was dwindling the dollar importance. Well here we are how many years later and the euro is nothing but a regional currency.
European countries are vassals of the US while China is a sovereign country which rivals the US so the comparison between Europe and China does not make sense.
Euro is not nothing and Chinese Yuan will not be nothing when you can buy most of the goods from China in Yuan
On the contrary, more countries choose to trade with yuan.
@@TheKkpop1 according to the ccp everyone does.. quit shilling for the ccp
Yeap. This didn’t age well. Argentina is trying to ditch their own currency for the dollar.
It is not challanging lah
It just diversification, risk averse, you need to make sure your cointry monetary internalyl safe
We all want dollars no matter what Russia and China say…
The evidence says otherwise and you are in denial.
Who is "we all?!?"
We all need the dollar as a reserve currency. However its getting to be very expensive atm.
@@zhugeliang3905 The evidence proves he is right. The Yuan doesn't even make up 2% of foreign reserves despite CCP arm twisting on their vassals.
The dollar was a pyramid scheme and it's time to burst
China lost 480 billion in purchase capacity since 2019 as it have 3 trillion dollar and each dollar is devalued 16%. This is a huge win for USA. China must hold gold instead of dollar. Similar loss happened to japan since 90s.
but the Chinese don’t want the Yuans back.
What does it mean for the dollar? Will it become weaker?
It will become weaker and its circulation for trade will become limited mainly confined to the west only.
@DK-ev9dg what is your definition of the west? Because I don't see Japan pulling their support away from the dollar neither those nation around South East Asia. Especially giving the situation. With China and Taiwan another country who will not pull its support away.
@@RTrews you are living on a different planet. Yesterday 12 south asian countries decided to kick the dollar out. Japan is vassal state of US. Whoever is asia remains to use US dollar are enemies of China and vassals of US like Malaysia and singhapore may be.
@@DK-ev9dg if the dollar becomes weaker then manufacturing will follow the dollar instead of the yuan.
Buy Bitcoin
BRICS plus ...
Argentina will be using BRICS Currency
There will be no BRICS currency so long as India and China are in the same group. They disagree on almost everything so sorry no BRICS currency. Just remember monetary policy must follow the fiscal policy of your nation otherwise you will wreck your economy badly. But if you don't believe just look at Venezuela, Lebanon, and Argentina. They tried split their monetary and fiscal polices and their nation is economy is sinking.
is the RMB is a major competitor to the USD?
the word dwindling is a bit of a stretch. isn't multiple countries right now in the process of dollarization? at least unofficially?
The problem with Americans is they politicised their dollars and sanctions anyone they feel like that thus they can’t be trusted. They should not have sanctions anyone even it they are fighting so no one will feel to change the status quo’s. I assume next 20 years the dollar value will drop very significantly. I true believe, people should start using real money such as gold and silver and not paper money that has no real value.
As though China never sanction lmao!
No Mohamed, go ahead see what happens if your an Arab and you use Iranian money. The Iranians would such you dry of all you economic wealth. LOL 🤣 Iran will never just not use an economic advantage to their benefit.
@@crystal2484 Put of your western indoctrinated glasses and join reality.
Trade is a privilege, no country is forced to trade and do business with the other. Well.....unless the United States or our friends tell you you have to trade.. then I guess a country could be forced to trade with the other.
bitcoin
Is CCP willing to have trade deficit like the US. Cause otherwise how will other countries have yuan unless they invest in yuan which will make Chinese products expensive. So, ultimately even if you were to say china is trustworthy still problem will be the same. But considering CCP I don't know how wise it is to bet on china. Rather trade in Brazil or India's currency at least they have some sort of democracy
No relation between democracy and financial system 🤔 financial system is about trust. And unfortunately, trust to west drop day by day. They abuse the power
The point is they need to challenge it. Is that a weakness.
If the Taiwan street is tampered with, China knows the panama canal is going to be?
I wish the euro€ was utilised more in Mexico.
when the taiwanese reporter claim there is cost in using yuan in argentinia,he is not telling the truth because using US dollars involved pesos conversion to dollars and then dollars conversion to yuan ,that is where the extra cost is?trading directly between argentina and china currency save cost?america will try its best to prevent dedollarisation because it is earning all those conversion fees and financial hegemony?why do you think it is attacking countries that try to dedollarise in the past????
Because the currencies have relative values versus each other, the value of the amount you're spending is the same. China wants countries to use the yuan to LOCK them into purchasing from China, and China alone.
cope brics currency is coming
Is this guy from continental China or Taiwan?
😂😂😂😂 look face he is china
The Americans pay for Israeli hardware and they buy Chinese bonds. lol.
Doing Business with China will be beneficial to Argentina in the future, China is not a ruthless country that traps a country into deep debt and slavery.
China will work with all members of the Brics+ so everyone benefits in prosperity and peace.
Indian calls Chinese today east India Company who drained wealth of India to uk.
agree
@@radhika00240 Theres no free ride anywhere, And you cannot get prosperity and peace for free.
China and the Brics+ provide this challenge. Unlike amerika!!
@@camocasnarrow-minded, ignorant and brainwashed
$32 trillion in debt is destroying the world economy
Yuan. Lol.
Yuan is not gonna take over dollar, its about freedom of capitalism. China and Argentina or anyother country will trade freely without US moral values or interests in mind.
I don't know if US has moral value?
@TheKkpop1 exactly lol, but they keep insisting the world to follow the "global order" which is absurd.
Xi jiping said he wanted china to be like Iowa and he called Iowa as place in his heart since he studied there . 390,000! Chinese every year come for school in us
@jacksmith6015 nah xi jiping copied the west
@jacksmith6015 he literally spent years of life in Iowa USA
De-centralised currency system is the answer
I pray that this will wake my country up to the serious problems that we have 😔🇺🇸
Never. Biden doesn't care
Argentina has not been known for wise political or economic decisions. China would prefer USDs, but trades in RMB for political reasons. While some may fear US sanctions, the China has imposed economic sanctions for something as petty as saying the origins of Civic should be investigated.
argentina just experiences the biggest rise of export (+40%) from jan to may because of trading with china without using USD
when u need to trade in but short in USD, u need to buy USD and normally at higher cost because US is manipulating the USD value. this is the major reason argentina today is facing(same as all non american), USD is more and more expensive because ur national currency is depreciating. this is because US is manipulating the USD and refuses to depreciate when they print new money. they dont depreciate then, on the other hand u money depreciate and u are poorer
I don't know if I don't want to buy from you can be consider economic saction. U use the term loosely
To be the major reserve currency you have to be willing to run trade deficits, large deficits.
Nah. They just do it as it's easy to abuse the power.
The US was the world’s largest exporter, when it achieved in reserve status. Learn a bit of history Mr.
@@kabzaify - 80 years ago at the end of World War II you are correct. You should catch up on the modern world and how things work now. See how other countries hold US treasuries...US debt is key.
Bitcoin.
What a dumb idea, let’s just use bitcoin everyone 0.o
(Us , dollars ) the worlds only reserves currency in the hole worlds,
Yeah good luck with that Chinese currency...lol..
Never heard about Argentina's huge debt toward China ? A real disaster for Chinese retirees since their money was used recklessly to finance BRI projects. Fact is Argentina can't reimburse its debts.
You have to understand Argentina is badly managed, they are most fascist their in Argentina that why their economy is bad.
They will probly print more money under the table as they always have been doin.
Argentina is debt trapped by US.
But china is creating an alternative and not a reserve currency 💵
People need to stop dreaming. Dollar forever baby 💵. Accept it!!!!!! Accept this dolla from mericuh 🇺🇸🦅🌎💵
❤❤,, God bless USA.. Europe and wrold in people's also,, people are happy only dollars,, people don't Trust China never,, in wrold only live that dollars,, don't Trust China,, God bless USA ❤❤God bless in wrold, ❤
European people are using Euro. not American dollar.
Very click-baity title. It’s technically true but basically what’s happening is a small portion of dollar business is likely going to be done in yuan now by poorer nations that do a lot of business with China. But, China at the same time is losing export power with a dwindling workforce so it’s not exactly a slam dunk and severe shortage of innovation.
Modi and Indian diaspora team
Let me get my Chinese Yuan.😂🤣😂
The risk mentioned is the fluctuations of the renminbi? Surely the renminbi is far more stable than the USD, since the former is fixed and the latter is not.
nonsense
What’s rmb fixed to?
massive Chinese made goods
They've been sounding the death knell of the dollar since the 80s.
"The love of money is the root of all evil."
and from the looks of it, that perfectly describes the american monetary system being abused by their government.
India shouldn't agree for brics currency we should rally behind USA who are more aligned to India's value like democracy and transparency and USA should stop printing their currency and peg some of their gold back to USD.
India has no respect for those who colonized them. Ditto for everyone else colonized.
"USA who are more aligned to India's value like democracy and transparency" - nice joke.
@@denisgorjunov I know there's concern regarding human rights and equality in USA also bribes are called lobbying but still better than china.
@@denisgorjunov Indian state Karnataka leader basavanna teached about democracy when usa wasnt even formed as usa and still hunter gather in england at that time 😆 India was the top dog along with china and history will repeat u can either ride along or be left at the past.
A bird doesn't know sovereignty after being enslaved for many centuries. It's even better to dump India rupees.
😂😅soon.....soon
China is in deep trouble with a huge loss of export. So yes, soon it will twindle into a deflationary loop.
@@Norwegian733 soon...soon 😆😁😀 dedolarization all over the world
@@chikiboomboom665 lol, I dont think so kid.
Nobody wants to own a currency that is not freely traded. And the market is not big enough. If China were to make the changes needed to make the Yuan freely traded, it will be traded on levels the regime cant accept 😂
@@Norwegian733 lol read international news more, dont stay in your cave
Month after month, year after year, decade after decade, same story .. but USD still king.
for trade?not too long .you can see it very soon
Update your information
I'm skeptical. Reports about this on TLDR for example have said basically the opposite about the feasibility of a BRICS currency.
It doesn't matter Cameron, what you don't know is the fall of civilizations. Look at the ancient work many hill side forts and powerful cities all fell and collapsed. Why? Because what cause such things you don't plan for. During last Bronze age there was a drought that last over 150 years and during that drought a massive earthquake storm hit the entire Eastern Mediterranean. Cities fell people moved and invaded into lands and mankind lost the ability to write it was so bad. Even today we can see the ruins of might hill top cities now all ghost cities.
Another clickbait title from DW.. have you guys been taking notes from Fox and CNN?!?🤦♂️🤦♂️🤦♂️
Pure fantasy.
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.
You cannot use the Chinese Yuan. Well over 40% of Chinese GDP is exports. The Chinese need to manipulate their currency to suit their domestic needs. Sorry, that why the CCP will not allow the it currency to be Reserve or even a Trade currency. Hong Kong is not allowed to use the Chinese Yuan.
@@mandarinandthetenrings2201 10% of Chinese GDP is export (total 20% counts for imports/exports). Domestic consumption counts 80% now, and will reach 85% in 10 years as national goal. Main export market is shifting to South Asia, Middle East, Africa and Latin America. Export to US counts for 1.8% and will be down to 1.2% in coming 5 years (and will be dismissed by then). Both US and EU are declining consumer market. Trading in Asia, Middle East and Africa will be done in Yuan.
You need to get your numbers right, get your brain cleaned and hopefully force Canada and Japan to use USD for your best shot.
@@liang8255 BRICS is spinning out of country already, Chinaman. Even as speak Russia and Saudi Arabia are feuding what are you going to do? Russia stop disclosing oil data and is refusing to cut oil production. Tunisia is on brink of collapse, and now China making nice with the United States. LOL hahahahahahahaha 😁
@@liang8255 Do you see it Chinaman oh yes, you running out of middle age adults you lied and over counted your population by 100 million people. Right now America has the cheapest labor because of AI, and cheapest electricity because the waist product of Shale oil is "Natural Gas". LOL hahahahahaha 😁 Natural gas is so cheap in America we sell it below production cost just to get rid of it. @liang qiao reaction: "Noooooooooo"!!!!
@@liang8255 Yes, yes Chinaman your export markets are crashing Germany, Russia, and whole of Central Europe has run out of middle aged adults just like you. No more consumption. And to your horror it America and Mexico that has the Millennials. Yes do you see Mao's master plan it was his plan all along to cut you population in half. Now, you see you been undone by Mao he is having the last laugh on you Chinaman by 2050 there will be only 650 million Chinese. Yes, you head for the biggest economic crash in the history of world because you have no people.
It definitely is beneficial for these countries to pay China import with Chinese Yuan. Why not!
Because they will only use the Chinese Yuan, to benefit China not your country. Were as America doesn't care.
As the percentage of G7 GDP reduced. It is becoming less effective in aserting its rules on others. Evidently, sanctions on Russia has backfired so spectacularly that one have to take a second look to be sure. I don't think G7 expected that results, I don't think Russia economy is that resilient or their power is that weak. China currency would not able to flip USD but the BRICS can.
👊👊👊🤝🤝 true Europe shot themselves in the foot
China is prosperous, forward-thinking and techologically advanced. Education is highly valued, there is hardly any gun crime, and no litter or graffiti on the streets. USA:... hmmm... well...
But but they can take your life savings with the click of a mouse. Ask your own people 😂
Okay, 20% graduates unemployed, perhaps, more u know, they find it difficult to report real numbers. Lots of white elephants airports, train tracks, bridges ..... have u heard that the west always have difficulty profiting from train tracks? so how does the Chinese profit from all of these with almost no one using them in some cases? Other than improving the GDP for a year, these white elephants infrastructures do nothing for the economy of their existence except that they people of China will have to pay off these infrastructures for the next few decades....just like the Belt and Road countries....
agree
The economy that you import from the most is also the currency you want the most
correct
Did you notice Argentina and paxistan is get highest investment in belt and road project they are one who are suffering most🤔
Try again most of their debt is held by western institutions spurred on by the failed austerity privatization reforms always pushed by the IMF another basically western institution. Trading in yuan will bring down costs while also divesting from institutions who kept pushing endless austerity and capital flight out their countries.
Hi troll,
Argentina is debt trapped by US long time ago. Get your fact right.
You can't get correctly check on Chinese economy number on any sector 🤣
This is so laughable.
If Russia clap. What would happen.
The yuan isn't even nationalized when or if they decide to make it nationalize the currency will decline up 15%
Maybe so, but China's yuan is even more overprinted than the Dollar. China has printed over a 100 trillion yuan over the last 4 years and they're not slowing down. The yuan is a soft currency and China can print as much as it wants without any backing. It's also not transparent like a forex currency.
perfect !
The US prints as much dollars are they want without backing and they have printed a large part of the dollars in existence in just the last few years.
Chinese currency is based on the goods. the real goods.
If China has been printing money how come inflation is low in China?
There are no sanctions or sezies of reserves. That's what those countries want.
Stop trying to make the Euro 'happen'.
Dollar or the Yuan? Why do we need a world reserve currency in the first place? What was wrong with using gold like for most of human history? And if you insist on using paper, then why does it have to be one country alone?
We really need to reinvent our economic system, its over complicated, wasteful, inherently unstable and way too easy for already rich people to exploit.
Dozens of reasons.
The gold standard prevents countries from enacting monetary policy to counter downturns as well as upswings in economic activity. The Great Depression is a great example. There are pros and cons to everything.
The issue is greed. Always the issue is greed.
Nobody has to just choose one. Its just that the USD is most popular followed by the Euro, Japanese Yen and Swiss franc...and then the Chinese Yuan in 5th
Should the EU decide to peg the Euro to gold, it could soon become the reserve currency #1. It would of course mean a lot of smart decision-making by its politicians, something they are not really famous for.
Chinise yuan is highly dependent from Chinese government which Could be quite autocratic.
It can change currency price whenever it wants. And periodically does this sometimes when it needs more currency/dollars during high/low export periods.
It’s not reliable, not trustworthy in a long time period.
It’s highly politically dependent (no balance)
It’s not transparent.
Right, plus there’s an internal rate in China and another exchange rate outside the country.
why there's much lower inflation in China than in USA?
Meanwhile, the usd is controlled by the federal reserve. Which is known to be transparent and democratic.
@@nulnoh219 transparent, yes. Control the usd exchange rate, no. USD Exchange rate vis à vis other currencies is determined by the market. FR controls the supply of dollar.
Every country can manipulate it's currency. US is the best example.
dont think CNY will replace USD in our life time, but diversfy risks and de-risk single currency can greatly reduce the risks..
This is hilarious. There is a reason (actually several) that the U.S. dollar is the world standard. The Yuan is a joke, and is only going to be more poorly rated in coming years.
Western Troll
I guess to Argentina the Chinese currency seems stable :) Both countries debase their currency at a rapid rate.
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When is the Argentinean economy not suffering?