Can the yuan dethrone the US dollar as the world’s reserve currency?

[MH.Yang]

lol, you don't seems to even understand what yourself are saying.

You can't "weaken" a domination, I mean, what is the point of 59% and 58% or even 51%? It was "Weaken" but then what? The power is still there even at 40%, without another dominant currency that tower over USD, it still dominate because if the US polled its 40% value, it would still hurt. , you are talking about how much US could make in between

Also, you cannot "weaken" the dollar and not have a replacement. And as Nyaga said, you can't really replace it with Yuan, either you let it dangle and keep using USD, or you replace it with Yuan or some other currency, which as I told you and as with this article written by a MBA, said it's impossible.

And finally, if you are saying "replacing USD from being used as a weapon against other" that is just solving one problem and making another one, again, how would you use USD as global trade if USD is not dominant? You can't say "Hey, i don't want it to dominant at a level, but I still want to use it to avoid getting into financial trouble".

LOL

Do you think China and USA are the kind of countries that rely on fighting to determine victory or defeat? These two countries are competing for decision-making power over world order and political rules, rather than comparing whose faces have more scars.

If China successfully implements the B&R plan worldwide to make the world accept the new world order of "peaceful coexistence, non-interference in each other's internal affairs, and building a community with a shared future for mankind," then China will be the winner.

China is a country that relies on trade to develop its economy, and trade requires peace and stability. Therefore, China needs a new world order with peace and stability as its main theme.

USA is a country that relies on domestic demand to develop its economy, and war is the greatest domestic demand. So after WW2, USA was in a state of no war for only two days.

The world order established by USA is unacceptable to China. This is also the fundamental contradiction between the two countries.

 

[beijingwalker]

One can not expect nothing is going to change with this change

 

[jhungary]

The world order established by USA is unacceptable to China. This is also the fundamental contradiction between the two countries.

This sentence is what is wrong with your and your kind thinking.

Just because world order established by USA is unacceptable to China does not mean anyone other than China have to or even want a new world order.

On the other hand, would you be able to establish a new world order based upon China itself is a big question. Not saying that won't happen, but under the current circumstance, it's as likely to happen as I hit the lottery tomorrow.

The issue here is, if you want to take down the US and take down the US established order, you will need to pay the price and play the piper, you can't ride on the back of this world order at the same time wishing it to be done with and you be the boss, it may happen in Chinese Drama but real world does not happen that way. I mean, I have no problem with you people trying to overthrow the current world order lead by the US, but the duality is, you can't ride on the back of said order while you are thinking of demolishing it. you can't have the cake and eat it, which seems to be most Chinese member here wanted.

 

[jhungary]

Just let them be lol.

I think the most amazing part is they want to enjoy USD to trade while they want to bring down the dominance of USD.....

Didn't these people realise those two term are contractionary?

 

[beijingwalker]

I think the most amazing part is they want to enjoy USD to trade while they want to bring down the dominance of USD.....

Didn't these people realise those two term are contractionary?

Just to weaken dollar dominance, it's not in China's interest to kill dollar, China always knows it. China is now world biggest trader by a huge margin and almost the biggest trading partner for every nation, it's natural that China wants Yuan to gain some weight in global trade.

 

[beijingwalker]

Dollar is backed by trust, ruble is backed by oil and other natural resources, Yuan is backed by global supply chain and trade. If more and more countries agree to do trade with China with Yuan, dollar global dominance can be greatly weakened, China is obviously working on it one country at a time.

 

[sutton999]

This sentence is what is wrong with your and your kind thinking.

Just because world order established by USA is unacceptable to China does not mean anyone other than China have to or even want a new world order.

On the other hand, would you be able to establish a new world order based upon China itself is a big question. Not saying that won't happen, but under the current circumstance, it's as likely to happen as I hit the lottery tomorrow.

The issue here is, if you want to take down the US and take down the US established order, you will need to pay the price and play the piper, you can't ride on the back of this world order at the same time wishing it to be done with and you be the boss, it may happen in Chinese Drama but real world does not happen that way. I mean, I have no problem with you people trying to overthrow the current world order lead by the US, but the duality is, you can't ride on the back of said order while you are thinking of demolishing it. you can't have the cake and eat it, which seems to be most Chinese member here wanted.

We do whatever we see fit. every country is on China's vision of peace and shared future for mankind.

That's why Anglo has to go hysterical lies, oh maybe only Aussie too racist to realize.

 

[jhungary]

We do whatever we see fit. every country is on China's vision of peace and shared future for mankind.

That's why Anglo has to go hysterical lies, oh maybe only Aussie too racist to realize.

lol, sorry, but I have to laugh at you on saying this....

Just to weaken dollar dominance, it's not in China's interest to kill dollar, China always knows it. China is now world biggest trader by a huge margin and almost the biggest trading partner for every nation, it's natural that China wants Yuan to gain some weight in global trade.

Again, you can't weaken and not replace it, sure, drop to 40%, which still mean 1.2 of 3 trillion of Chinese Forex is at US control and they can seize it anytime instead of 1.8 when it was at 59%. What are the different?

As I said, you can't keep it and try to overthrow it at the same time. You need to choose one, if you want to take US out of the equation, you can't use US dollar to trade, I mean, this is very simple concept, even my 8 years old niece understands.

 

[ProudThamizhan]

Yuan is even more artificially protected from true market. Till that changes , it has no chance of being accepted broadly

 

[Mista]

Dollar is backed by trust, ruble is backed by oil and other natural resources, Yuan is backed by global supply chain and trade. If more and more countries agree to do trade with China with Yuan, dollar global dominance can be greatly weakened, China is obviously working on it one country at a time.

The USD is backed by a deep and liquid financial market, which is then backed by hundreds of world class companies operating around the world and a transparent political system with the rule of law to allow capital and information to flow freely.

I don't see China able to or want to do those things. Maybe in the distant future, but not anytime soon. Maybe Chinese families should start by rebalancing away from real estate investments.

Ranked: The 100 Biggest Public Companies in the World

Who made it to the top? Here are the world's most valuable public companies in 2022 as the year comes to an end.

www.visualcapitalist.com

Global Top 100 public companies by market capitalisation

This report analyses the position of the Global Top 100 Companies and highlights the changes in the composition of the list, comparing the Global Top 100 Companies by market capitalisation as at 31 March 2024, 31 March 2023 and other relevant periods.

www.pwc.com

 

[Azadkashmir]

its simple ban the dollar and move towards barter trade. this will expose whose economy is producing real goods and who's is artificial.

 

[beijingwalker]

The USD is backed by a deep and liquid financial market, which is then backed by hundreds of world class companies operating around the world and a transparent political system with the rule of law to allow capital and information to flow freely.

I don't see China able to or want to do those things. Maybe in the distant future, but not anytime soon. Maybe Chinese families should start by rebalancing away from real estate investments.

View attachment 924979
View attachment 924981

Ranked: The 100 Biggest Public Companies in the World

Who made it to the top? Here are the world's most valuable public companies in 2022 as the year comes to an end.

www.visualcapitalist.com

View attachment 924980

Global Top 100 public companies by market capitalisation

This report analyses the position of the Global Top 100 Companies and highlights the changes in the composition of the list, comparing the Global Top 100 Companies by market capitalisation as at 31 March 2024, 31 March 2023 and other relevant periods.

www.pwc.com

It's about international trade, not China's domestic growth, China is the world biggest trader and top trading partner of most countries in the world, China is working on getting more countries to do trade with China with Yuan, one country at a time.

 

[Viet]

How then? Please enlighten people here how China could win?

The yuan will one of top reserve currencies.
Dollar, euros, yuan as top 3
The second tier will be Yen, Swiss franc, Sterling, Singapore dollar.

 

[BHAN85]

US days of super power and USD dominance days are numbered

Us uses dollar to manipulate world every one is sick with this blackmailing

no government is worst than a bad government.

USA is like a "state" of world states.

What would happen to the people of a country without a state? mayhem and criminality with impunity, that will be world without USA ruling.

*

Luxuries that are wished by all world ruling elites are sold in dollars, that's the USA monopoly of power.

USA/West manufacture all that all ruling elites want.

It has no sense to be rich if you can not buy luxuries items, if you are rich, you can't eat 1 ton of rice by day, richness only have sense buying luxuries, and West/USA manufacturer those luxuries and it's sold in USD.

 

[tower9]

The USD is backed by a deep and liquid financial market, which is then backed by hundreds of world class companies operating around the world and a transparent political system with the rule of law to allow capital and information to flow freely.

I don't see China able to or want to do those things. Maybe in the distant future, but not anytime soon. Maybe Chinese families should start by rebalancing away from real estate investments.

View attachment 924979
View attachment 924981

Ranked: The 100 Biggest Public Companies in the World

Who made it to the top? Here are the world's most valuable public companies in 2022 as the year comes to an end.

www.visualcapitalist.com

View attachment 924980

Global Top 100 public companies by market capitalisation

This report analyses the position of the Global Top 100 Companies and highlights the changes in the composition of the list, comparing the Global Top 100 Companies by market capitalisation as at 31 March 2024, 31 March 2023 and other relevant periods.

www.pwc.com

Where is the rule of law and market transparency when the US unilaterally weoponizes the dollar seizing assets both linked to foreign governments and private citizens? Also, what is more important to purchase, commodities and manufactured goods or stocks and bonds?

Again, people like you who spout neoliberal tropes do not get what is happening. No one is saying that the USD is going to disappear but it’s overarching hegemony is coming to an end and with that will come an end to the US govts ability to sanction others and create growth by inflation. The foolish and extremely aggressive foreign policy carried out by the neocons have created great distrust in using the dollar and swift system and that is why the world is looking for alternatives.

Dozens of major countries have signaled they will be diversifying their trade. This is a momentous event. Dollar dominance will only decline in the future not increase.