Will the Chinese Yuan supersede the US Dollar in the future?

[LottoBooking]

Is China's currency going to become the world reserve currency within a few years? 

[BITCOINERSEJATI]

Is China's currency going to become the world reserve currency within a few years? 

"As China's economic influence grows, the global importance of the renminbi will become magnified. Indeed, while for decades it has been a 'greenback world', dominated by the U.S. dollar as the world's primary reserve currency, many think a 'redback world', in which the renminbi enjoys premier status, is increasingly a possibility," the report accompanying the survey said.

[Erdogan]

But but but... they need to get rid of currency controls, and they need to run a trade deficit for a couple of decennia. And they need to avoid an implosion in the mean time. Then we can talk.

[bryant.coleman]

Many of the superpowers are fed up with the American manipulation of the USD, and are taking steps to free themselves from the dollar bondage. For example, Russia recently decided to dump its American treasury bond holdings and took steps to conduct the Sino-Russian bilateral trade in CNY. A number of countries have entered in to currency swap agreements with China. All this points to a bright future for the CNY.

[jayce]

If there are any currency that will supersede US Dollar, I think US will try hardly to prevent that. They can make the country economy go down with their ways. And I'm not sure Yuan will supersede US Dollar, since there are other better and more stable currency like GBP and EUR.

[JayCoDon]

The day that happens is the day that American global control ends. It will be very interesting to see what happens over the next 10-20 years.

[ThEmporium]

The day that happens is the day that American global control ends. It will be very interesting to see what happens over the next 10-20 years.

It is not such easy that American global control ends. U.S will not make it happen that is why they called Super Power. Well, However if any break in U.S Allies will pave the way to rise and defend against the United States of America. If Asian countries get united together and hold strongly in their business and borders will make them totally independent of U.S global controls. The Question here is " Who will cat the Bell " ?

[countryfree]

Not in a few years. I'm expecting a big change when the oil and all the fossil fuels run out. In 30/50 years. All that trade right now is in US dollars. When it's over, the global importance of the American currency will shrink dramatically.

[anderson00673]

Not in a few years. I'm expecting a big change when the oil and all the fossil fuels run out. In 30/50 years. All that trade right now is in US dollars. When it's over, the global importance of the American currency will shrink dramatically.

I agree.

China has a vested interest in the dollar being the international currency.  They are one of the biggest buyers of usa government bonds so they want a strong dollar not a weak one.  If this did happen it would be a slow process taking many years.  I doubt that it would be a fast change.  Even if the big players want to change the international currency, they dont want to break the system to do it.

[WhatTheGox]

Is China's currency going to become the world reserve currency within a few years?  

Its going to become the #1 currency for sure but perhaps the cultural differences between east and west will hold off china a little. If you look at the exchange rate from the last 10 years though the trend is pretty obvious:

[okae]

i dont think so,  the truth is that they are doing things pretty good, even better than other countrys like the export, but dont forget that you are asking about US, those guys who are able to find an enemy even if they have a current one...

[LottoBooking]

Is China's currency going to become the world reserve currency within a few years?  

Its going to become the #1 currency for sure but perhaps the cultural differences between east and west will hold off china a little. If you look at the exchange rate from the last 10 years though the trend is pretty obvious:

https://i.imgur.com/XXmczrZ.jpg

Can you see it dropping to 5 anytime soon? 

[AtheistAKASaneBrain]

I don't sell the dollar being dethrone anytime soon. China has done great lately,but their bubble is one created out of pathetic wages, exploitation and low quality mass produced products, and this bubble will eventually burst. Nothing last forever on that state.

[BRE]

Chinese officials have set 2020 as the target date by which Shanghai will be transformed into a first class international financial centre.
This will mean substantially opening Chinese financial markets to foreign investors.
All this is to say that China has plenty to do before the Yuan will rival the US dollar in the future, but the day will come.

[qiwoman2]

China's Fiscal influence has already now spanned all continents so it is only a matter of time that China's monetary policies and currency will surpass the US DOLLAR. The U.S National debt is held by China so it only takes a snap of the Chinese Fingers to make the US DOLLAR tumble to oblivion.

[LottoBooking]

I don't sell the dollar being dethrone anytime soon. China has done great lately,but their bubble is one created out of pathetic wages, exploitation and low quality mass produced products, and this bubble will eventually burst. Nothing last forever on that state.

Is that the same bubble as the real estate bubble in New York & London?

[techgeek]

In the future as a world reserve currency, maybe.

But, the dollar has been marketed to other nations for a long time, so its a bit harder for them to even look it as a reserve currency. But intially china does want to make that move.

[lissandra]

china always wants to become like the u.s eventually.

they been buying precious metals and other things back in 2012 i think.

[bryant.coleman]

Its going to become the #1 currency for sure but perhaps the cultural differences between east and west will hold off china a little. If you look at the exchange rate from the last 10 years though the trend is pretty obvious

The exchange rates doesn't matter much, as there are claims that the CNY is heavily manipulated by the Chinese government. This is one of the main reasons why various countries are reluctant to add the Yuan to their Forex reserves. Still, it is commendable that the Yuan actually increased its net value against the USD, when all the other currencies (EUR, RUR, UKP, INR, CHF, CAD, AUD.etc) lost their value.

[bornil267645]

I think China still have a long way to go, but if anybody in the current world economy can get there, it's China. Their total market revenue is increasing at stagring rate and if they keep this up, they might come face to face with USD in the near future.