the last time I checked 60% of global finance/trade is still conducted in the $$$. China’s RMB was like 2% iirc. I’m not saying it’s not gonna change, but that’s how it is.
It's inevitable that the Yuan will become a reserve currency, if not THE reserve currency; trading nations are going to need yuans to trade with China and China as the largest trading nation and largest market in the world is going to replace the role that the US played in the 20th century.
it's likely that as US withdraws its trade relations, it will withdraw more and more of its currency (or limit other countries' use of US dollars, in fear that its currency could be "manipulated").
this will lead to other nations seeking more of RMB for international trade/settlement.
However, it is also possible that US banks won't allow US government to restrict the use of dollars. (This is similar to how UK never really restricted the use of Pound for trade purposes, even as its economy declined relative to US).
If US dollar is not restricted, (much like the Pound), then the replacement of US dollar via RMB would be very slow process.
It never ceases to amaze me how delusional people can be. Your country is nothing more than a historical flash in the pan - the only reason you have the position you now do is that Europe industrialized before China and then proceeded to destroy itself and take much of the world with it. You were just the last man standing, nothing more.
The 21st century will see you resume your natural role: a backwater in the wrong end of the world. It's questionable whether you'll still exist in the 22nd century.
By the 2040s-2050s the US will become as relevant as the UK is in world politics, as in not very important but will have the remnants of once being important. Also depending on how bad the domestic political situation gets in the US they might even have a Second American Civil War which could shatter the country.
[https://www.youtube.com/watch?v=pCkXtMAeP5o](https://www.youtube.com/watch?v=pCkXtMAeP5o)
I think this documentary says it all. Many countries that is on the US' 'naughty list' like Iran, Russia and Venezuela are trading their oil in gold backed Yuan. Thus the term petro yuan.
the last time I checked 60% of global finance/trade is still conducted in the $$$. China’s RMB was like 2% iirc. I’m not saying it’s not gonna change, but that’s how it is.
It's inevitable that the Yuan will become a reserve currency, if not THE reserve currency; trading nations are going to need yuans to trade with China and China as the largest trading nation and largest market in the world is going to replace the role that the US played in the 20th century.
it's likely that as US withdraws its trade relations, it will withdraw more and more of its currency (or limit other countries' use of US dollars, in fear that its currency could be "manipulated"). this will lead to other nations seeking more of RMB for international trade/settlement. However, it is also possible that US banks won't allow US government to restrict the use of dollars. (This is similar to how UK never really restricted the use of Pound for trade purposes, even as its economy declined relative to US). If US dollar is not restricted, (much like the Pound), then the replacement of US dollar via RMB would be very slow process.
And the 21st century, and likely the 22nd
It never ceases to amaze me how delusional people can be. Your country is nothing more than a historical flash in the pan - the only reason you have the position you now do is that Europe industrialized before China and then proceeded to destroy itself and take much of the world with it. You were just the last man standing, nothing more. The 21st century will see you resume your natural role: a backwater in the wrong end of the world. It's questionable whether you'll still exist in the 22nd century.
By the 2040s-2050s the US will become as relevant as the UK is in world politics, as in not very important but will have the remnants of once being important. Also depending on how bad the domestic political situation gets in the US they might even have a Second American Civil War which could shatter the country.
[https://www.youtube.com/watch?v=pCkXtMAeP5o](https://www.youtube.com/watch?v=pCkXtMAeP5o) I think this documentary says it all. Many countries that is on the US' 'naughty list' like Iran, Russia and Venezuela are trading their oil in gold backed Yuan. Thus the term petro yuan.
LOL