There are 6 main reasons for countries to decouple from US dollar:

[migflug]

Who said China wants Yuan to replace dollar?

Because only Euro and Yuan has economic heft to balance dollar.

 

[Muhammed45]

What does #4 mean? How does the US know all your business if you use the dollar?
@FuturePAF @ziaulislam



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They monitor both physical and digital dollar transactions easily. SWIFT and other western developed transaction systems track digital transactions and the serial number of every paper of dollar enables them to track them physically.

USD is the most dangerous currency to use for bilateral trade since its basically developed to dominate the markets. It enables the US ministry of treasury to easily track international transactions. Forasmuch as this system is spreads through complete domination of target countries, US military hence NATO is the main backing force of Dollar domination in world market and global transactions.

The best way to stop this financial terrorism imposed on the world by US bully regime, is to stop making it reserve currency. When countries and central banks of every country translates own currency on USD based system, devaluation of own currency and strengthening of USD would be inevitable. Stop defining national budgets with dollar, stop using dollar as reserve in central banks and develop replacement for SWIFT and other western platforms is the primary solutions which needs a global will and global alliance to stop the bully.

We know that Gaddafi tried it and he got destroyed by NATO (US bully army). Now that USA wants Europe to fight against Russia on its own behalf, the world including France and BRICS feels the need for a change.

Currently, China is leading the economic challenge against the US, next step would be introduction of a new currency to replace dollar.

Return dollar to where it belongs, that way, its attached infaltion will completely screw United Snakes financially.

 

[大汉奸柳传志]

Nothing is stopping you. Please go ahead with it TODAY.

of course America would beg for a quick death but she only deserves a slow, excruciating one.

Simply not possible, to replace Dollar, China has to completely free its renminbi which is simply not possible. China keeps their currency undervalued for higher export, so to make renminbi a dollar substitute they have to remove those checks and balances, which i don't think CCP would want. There is no decoupling from dollar as of today, decline sure, but no substitution by any currency.

Clueless. no need to push for RMB's share when currency swaps and mBridge are already doing wonders, even your country India is in on the mBridge project that you are probably not aware of

 

[villageidiot]

All banking transctions are done via swift system that in theory is owned by a consortium of Americans/European banks but in practice after Patriot act can be viewed by uncle same within a few minutes.

China has its own system and is massively pushing for it

Removing Russia from swift is what triggered popularity of Chinese system

It was a stupid move by USA

So, the US can see the transcations but do they know what commodity each country is trading ith what other country and in what quantity? I think that's the more important question.

 

[ziaulislam]

So, the US can see the transcations but do they know what commodity each country is trading ith what other country and in what quantity? I think that's the more important question.

There are other things they control like insurance..they can see many things through that as well

 

[mulj]

It is not abkut ditching dolalr as trading currency it is more about as only value measuring instrument and USA will have to face this monopoly crumble.

 

[VCheng]

typical knee jerk reaction...

Or merely empty claims of killing the USD.

Only fools will think dollar will collapse overnight in one day, it's not good fo US and it's not good for China either, but still, anyone who is not blind can see the erosion of dollar has already started.

Yes, it started last Tuesday. Clearly.

of course America would beg for a quick death but she only deserves a slow, excruciating one.

YAWN. In the meantime, lemme crack open a cold one. Excruciating, I know, I know.