Russia and others, move to use Yuan instead of dollar.

[DrBeer]

But, I believe that the US Dollar has a pretty strong influence on the world economy and is used almost everywhere, online as well, so it won't be an easy task for any country or a couple of countries to try and shatter this influence.

The problem for the US is that it is not necessary for China, Russia or anyone else to completely eliminate this influence, even the emerging downward trend in influence is very painful for the US. When the dollar's share of international trade shrinks, you can no longer routinely print trillions and export inflation to emerging economies. Now the inflation boomerang is coming back to the US.

It is true that the US's influence in the global economy is tied to the dominance of the US dollar as the world's reserve currency. The decline of the dollar's share in international trade poses a significant challenge to the US, as it limits its ability to export inflation to emerging economies by printing trillions. This results in the boomerang effect, where inflation returns to the US, causing economic pain.

I Think As the world becomes increasingly multipolar, the US will need to adapt its monetary policies and engage in constructive dialogue with other countries to maintain its position in the global economy.

In fact, the so-called "going countries away from the dollar" is just China's game. The game is that he has brought together a group of, no offense, not very smart countries, and replaces their international currency reserves, from a highly liquid dollar to his yuan. China has several goals here:
1. "Export inflation" of the yuan to other countries. Now they will pay for the depreciation of the yuan, at the expense of their citizens.
2. The flow of dollar reserves from non-smart countries to the bins of China. The dollar is critical for China, and China's rejection of the dollar is a synonym for "China is returning to the 70s of the last century. Peripheral, backward, agrarian country producing cheap consumer goods"
3. China recognizes the world as bipolar, where the first pole is the US, the second is China. And China needs to create a "servant environment, within the framework of the usual concept of empire. Someone will be a raw material appendage, and someone will be a" tame dog "who, having no dollar, i.e. the opportunity to buy on a civilized market, will be forced to buy only from China. And for this, all the "servants" of China should receive income and pay only in Yuan, and as a matter of fact, they should not have a dollar in their reserves.

If everything goes as China plans, in 5 years you will see how "partners in the fight against the dollar" will begin to squeal and return again to the international open economy and markets, where the currency of mutual settlements is the dollar. True, not everyone will return ... Someone will completely lose their independence and become a "region of China"

[1714689748]

1714689748

[1714689748]

1714689748

[1714689748]

1714689748

[slapper]

But, I believe that the US Dollar has a pretty strong influence on the world economy and is used almost everywhere, online as well, so it won't be an easy task for any country or a couple of countries to try and shatter this influence.

The problem for the US is that it is not necessary for China, Russia or anyone else to completely eliminate this influence, even the emerging downward trend in influence is very painful for the US. When the dollar's share of international trade shrinks, you can no longer routinely print trillions and export inflation to emerging economies. Now the inflation boomerang is coming back to the US.

It is true that the US's influence in the global economy is tied to the dominance of the US dollar as the world's reserve currency. The decline of the dollar's share in international trade poses a significant challenge to the US, as it limits its ability to export inflation to emerging economies by printing trillions. This results in the boomerang effect, where inflation returns to the US, causing economic pain.

I Think As the world becomes increasingly multipolar, the US will need to adapt its monetary policies and engage in constructive dialogue with other countries to maintain its position in the global economy.

In fact, the so-called "going countries away from the dollar" is just China's game. The game is that he has brought together a group of, no offense, not very smart countries, and replaces their international currency reserves, from a highly liquid dollar to his yuan. China has several goals here:
1. "Export inflation" of the yuan to other countries. Now they will pay for the depreciation of the yuan, at the expense of their citizens.
2. The flow of dollar reserves from non-smart countries to the bins of China. The dollar is critical for China, and China's rejection of the dollar is a synonym for "China is returning to the 70s of the last century. Peripheral, backward, agrarian country producing cheap consumer goods"
3. China recognizes the world as bipolar, where the first pole is the US, the second is China. And China needs to create a "servant environment, within the framework of the usual concept of empire. Someone will be a raw material appendage, and someone will be a" tame dog "who, having no dollar, i.e. the opportunity to buy on a civilized market, will be forced to buy only from China. And for this, all the "servants" of China should receive income and pay only in Yuan, and as a matter of fact, they should not have a dollar in their reserves.

If everything goes as China plans, in 5 years you will see how "partners in the fight against the dollar" will begin to squeal and return again to the international open economy and markets, where the currency of mutual settlements is the dollar. True, not everyone will return ... Someone will completely lose their independence and become a "region of China"

Oh, China, you sneaky little devil! Trying to replace the mighty dollar with your yuan? Good luck with that! You think you can just bully the non-smart countries into using your currency and exporting your inflation? Think again!

But, let's be real here, who needs a reserve currency anyway? Why not just use Pokemon cards or Chuck E. Cheese tokens? That would be way more fun and exciting! And, if China wants to be the emperor of the world, why not just declare themselves the new Galactic Empire and force everyone to use Galactic Credits? I'd totally sign up for that!

[Bananington]

What does this new development make for the US economy and the US dollar in the coming days and years to come.[/b]
Give your personal opinion on this development!

The United States will soon loose the advantage it has with economic warfare. Many countries have observed how quickly the United States issues out economic sanctions and how deadly an effect it has had on the economies of the receiving country because of the dependence of these countries on the US dollar for international transactions. Russia is an example of one and how sanctions generally affected all its citizens.

This new development will be widespread soon because many countries want to reduce that advantage that the US has over them.

[Hispo]

To be honest, I don't think the Chinese currency has much future here in Latin America, historically we are under the sphere of influence of the American Dollar and the economic policies taken in Washington. I don't see why Brazil, Colombia, Peru or Chile would adopt the Yuan.

The only realistic candidates for it would be Argentina and Venezuela, since both have had suffered inflation problems to this day an the Yuan is relatively strong. In the case of Venezuela, people prefer to hold Dollars (for the influential aspects I already mentioned) and the government is never serious when they talk about dishing USD in favor of currencies from ally super-powers. I am very skeptical this has some room in Latam.

[Silberman]

What does this new development make for the US economy and the US dollar in the coming days and years to come.[/b]
Give your personal opinion on this development!

The United States will soon loose the advantage it has with economic warfare. Many countries have observed how quickly the United States issues out economic sanctions and how deadly an effect it has had on the economies of the receiving country because of the dependence of these countries on the US dollar for international transactions. Russia is an example of one and how sanctions generally affected all its citizens.

This new development will be widespread soon because many countries want to reduce that advantage that the US has over them.

It is interesting how the threat of a weapon many times is stronger than the weapon itself, the US when a country does something they do not like they use those sanctions to punish the country and force them to change their policies, however this has created the desire on many of those countries to create ways to avoid or reduce the impact of that weapon, so not only this will affect the power of those sanctions but at the same time it will weaken the dollar, a thing that is kind of dangerous at the moment.

[zasad@]

But, I believe that the US Dollar has a pretty strong influence on the world economy and is used almost everywhere, online as well, so it won't be an easy task for any country or a couple of countries to try and shatter this influence.

The problem for the US is that it is not necessary for China, Russia or anyone else to completely eliminate this influence, even the emerging downward trend in influence is very painful for the US. When the dollar's share of international trade shrinks, you can no longer routinely print trillions and export inflation to emerging economies. Now the inflation boomerang is coming back to the US.

It is true that the US's influence in the global economy is tied to the dominance of the US dollar as the world's reserve currency. The decline of the dollar's share in international trade poses a significant challenge to the US, as it limits its ability to export inflation to emerging economies by printing trillions. This results in the boomerang effect, where inflation returns to the US, causing economic pain.

I Think As the world becomes increasingly multipolar, the US will need to adapt its monetary policies and engage in constructive dialogue with other countries to maintain its position in the global economy.

In fact, the so-called "going countries away from the dollar" is just China's game. The game is that he has brought together a group of, no offense, not very smart countries, and replaces their international currency reserves, from a highly liquid dollar to his yuan. China has several goals here:
1. "Export inflation" of the yuan to other countries. Now they will pay for the depreciation of the yuan, at the expense of their citizens.
2. The flow of dollar reserves from non-smart countries to the bins of China. The dollar is critical for China, and China's rejection of the dollar is a synonym for "China is returning to the 70s of the last century. Peripheral, backward, agrarian country producing cheap consumer goods"
3. China recognizes the world as bipolar, where the first pole is the US, the second is China. And China needs to create a "servant environment, within the framework of the usual concept of empire. Someone will be a raw material appendage, and someone will be a" tame dog "who, having no dollar, i.e. the opportunity to buy on a civilized market, will be forced to buy only from China. And for this, all the "servants" of China should receive income and pay only in Yuan, and as a matter of fact, they should not have a dollar in their reserves.

If everything goes as China plans, in 5 years you will see how "partners in the fight against the dollar" will begin to squeal and return again to the international open economy and markets, where the currency of mutual settlements is the dollar. True, not everyone will return ... Someone will completely lose their independence and become a "region of China"

If you asked me 10-15 years ago what to keep your savings in, I would answer that in dollars. Now I wouldn't say that.
If you look at the statistics, the US produces 18% of world GDP, and consumes 2 times more because it prints dollars. The USA has a big debt, but it doesn't matter because the dollar printer is installed in the USA.
Every country wants to repeat this trick, but resources are limited. If it gets better in China, it will get worse in the US and Europe. China and India are half of the world's population, and it is impossible to ignore them.

[DrBeer]

If you asked me 10-15 years ago what to keep your savings in, I would answer that in dollars. Now I wouldn't say that.
If you look at the statistics, the US produces 18% of world GDP, and consumes 2 times more because it prints dollars. The USA has a big debt, but it doesn't matter because the dollar printer is installed in the USA.
Every country wants to repeat this trick, but resources are limited. If it gets better in China, it will get worse in the US and Europe. China and India are half of the world's population, and it is impossible to ignore them.

Keeping only in dollars was stupid even 15 years ago - diversification is what should be a mandatory approach in finance!

Concerning debts - I beg you! This topic has not looked attractive for a long time I explain - China has a debt almost 2 times MORE than that of the USA! At the same time, China can only print the yuan! That's exactly what the network is the reason for the inflated hysteria "we give up the dollar
Because China needs to EXPORT its inflation, and financial problems, to less smart "friends"
You may not have noticed it yet, but very soon everyone will see it. China's goal:
- "attach" their "friends" to the Yuan so that they "suck" China's inflation for their money.
- provide RMB DEPENDENT consumer markets
- continue to print yuan to cover their BIG internal problems, and secure their economy from the consequences of the "printing press", at the expense of "friends"
- remove the dollar from the economy of "friends" .. into YOUR pocket. And in the future to receive dollars, due to the role of "customs" between the normal world market and a bunch of fools who have only yuan, and they cannot buy anything in the USA, for example. The US does not sell for yuan. And here the role of the exchanger will be performed by China, earning DOLLARS

Regarding "China and India make up half of the world's population" is just a number. There is a huge gap between quantity and quality. If we lived in the Middle Ages - the number would have mattered, but now the world has moved away from primitive measures of "greatness", such as the number of population. Here is an example of "greatness" too - Russia 40% of the world's fossil reserves, the largest country in terms of territory .. And what is the result? In fact, an embittered, backward, depressive territory! For example, China, without Western technologies, will again slide into the "third world agricultural country" as it was 30-40 years ago ... Even if it has 2 times more population than in India

[rby]

This is what could be referred to in international politics as power tussle in terms of international levels of analysis. Haven such two conflicting countries like China and Russia coming together based on mutual economic interest against a common rival the USA is one that could be very frustrating for the US dollar with the unambiguous leverage and advantage the likes of Russia, China, Iran and Saudi Arabia have come together to give to the Chinese Yuan. With Russia in the forefront bent on the use of the Chinese Yuan instead of the US dollar in their country and in all of it's transactions and trades settlements with Latin America, Africa and Asia countries.
https://www.wsj.com/articles/russia-turns-to-chinas-yuan-in-effort-to-ditch-the-dollar-a8111457

What does this new development make for the US economy and the US dollar in the coming days and years to come.
Give your personal opinion on this development!

We all know that there is some kind of supremacy war between China and United States of America.
But this one is far from want China can win with their numerous strategies. The difficulty that China always face in achieving whatever they strategize is because United States has so many allies and friends around the world, this makes Chinese intentions always got frustrated at a particular time.
I have known about some countries who had decided to use the Chinese currency as their base currency in the exchange market but those plans did not work out at the long run because majority of these countries were the countries from the underdeveloped side of the world. So they always request aid and financial assistance for United States and the international monetary fund. That is why those plans were always frustrated at a particular time and I don't think this will be an exception.

[ElmedoRator]

Historically we have seen such interactions, when the opponent's opponent was a good ally. And the developments in the world over the years, the fact that countries like Russia and China do not want the US position to control everything. Personally, I see the escalating issues that may lead to China soon taking on the role of a country that directly affects and affects future problems in the world. Now the big event about the tension between Russia and Ukraine, but in my opinion the war now can widen the scope if some countries still keep the conservative stance.

[zasad@]

If you asked me 10-15 years ago what to keep your savings in, I would answer that in dollars. Now I wouldn't say that.
If you look at the statistics, the US produces 18% of world GDP, and consumes 2 times more because it prints dollars. The USA has a big debt, but it doesn't matter because the dollar printer is installed in the USA.
Every country wants to repeat this trick, but resources are limited. If it gets better in China, it will get worse in the US and Europe. China and India are half of the world's population, and it is impossible to ignore them.

Keeping only in dollars was stupid even 15 years ago - diversification is what should be a mandatory approach in finance!

Concerning debts - I beg you! This topic has not looked attractive for a long time I explain - China has a debt almost 2 times MORE than that of the USA! At the same time, China can only print the yuan! That's exactly what the network is the reason for the inflated hysteria "we give up the dollar
Because China needs to EXPORT its inflation, and financial problems, to less smart "friends"
You may not have noticed it yet, but very soon everyone will see it. China's goal:
- "attach" their "friends" to the Yuan so that they "suck" China's inflation for their money.
- provide RMB DEPENDENT consumer markets
- continue to print yuan to cover their BIG internal problems, and secure their economy from the consequences of the "printing press", at the expense of "friends"
- remove the dollar from the economy of "friends" .. into YOUR pocket. And in the future to receive dollars, due to the role of "customs" between the normal world market and a bunch of fools who have only yuan, and they cannot buy anything in the USA, for example. The US does not sell for yuan. And here the role of the exchanger will be performed by China, earning DOLLARS

Regarding "China and India make up half of the world's population" is just a number. There is a huge gap between quantity and quality. If we lived in the Middle Ages - the number would have mattered, but now the world has moved away from primitive measures of "greatness", such as the number of population. Here is an example of "greatness" too - Russia 40% of the world's fossil reserves, the largest country in terms of territory .. And what is the result? In fact, an embittered, backward, depressive territory! For example, China, without Western technologies, will again slide into the "third world agricultural country" as it was 30-40 years ago ... Even if it has 2 times more population than in India

Thanks to diversification, I was left with the old British pounds. Now I admire them
All countries want to live at the expense of others, and China is no exception.

Based on what data do you talk about China's debt?
https://en.wikipedia.org/wiki/List_of_countries_by_external_debt
How far is Russia behind the US and Europe? Gay parades are banned in Russia. We don't need it in Russia 

[Uruhara]

Actually, of course, we all have to realize today that the economic movement in Asia has been growing for the better over time. And China as the leading country in the economy in Asia is now starting to strengthen their economic resilience to more countries outside of Asia. And China is also trying to reduce their dependence on the US Dollar in international trade by making cooperation with more countries that have interests in China and using the Yuan as currency in their transactions. I even read news about France buying Natural Gas using Chinese currency, namely Yuan. I forgot to save the source of the news that I read. maybe I'll pin it when I find it again.

[woez]

Without the existence of a parallel alliance of G7 or G20, the moves taken by China or Russia will not succeed because they represent a partial link and not an integrated economic structure far from the dollar.

Countries will succeed if global economies are affected by the dollar or the US Federal Reserve does not take into account the problems of other countries when it takes financial decisions such as raising or fixing interest, but complete replacement will not happen until after a world war.

How will the local currency be priced if the United States imposes sanctions on those countries that lead to its depreciation?

The issue of switching from the US dollar to other currencies, such as the Chinese yuan, is a complex one involving many factors beyond just economic alliances. While it is true that countries such as Russia and China are trying to move away from the dollar, this move will not succeed without a greater global shift away from the dollar as the world's reserve currency.

Additionally, the issue of how local currencies will be valued in the face of US sanctions is a real concern, and underscores the challenges countries face in trying to move away from the dollar and it is good to note that any move away from the dollar will require careful planning and collaboration between countries, as well as broader shifts in the global economic fabric.

[FrozenBit]

I see that Russia and other countries switching to using RMB instead of dollars can be interpreted as wanting to reduce their dependence on the US currency and create diversification in international transactions. This can also help promote economic cooperation among regional countries and reduce dependence on Western Europe and North America. However, converting currencies is not easy and requires careful economic, political and legal preparation. In addition, the transition also needs to be done simultaneously with the agreement of the stakeholders and adjust the transition time to avoid adversely affecting the economies of the countries.

[bangjoe]

Without the existence of a parallel alliance of G7 or G20, the moves taken by China or Russia will not succeed because they represent a partial link and not an integrated economic structure far from the dollar.

Countries will succeed if global economies are affected by the dollar or the US Federal Reserve does not take into account the problems of other countries when it takes financial decisions such as raising or fixing interest, but complete replacement will not happen until after a world war.

How will the local currency be priced if the United States imposes sanctions on those countries that lead to its depreciation?

The G7 and G20 alliances have indeed had a significant impact on economic development and the influence of Russia and China in the international economy, especially in commodity trading, which aims to suppress the chain of dollar hegemony. I seem to have another picture in terms of the Russia-Ukraine conflict and the economic war between China and the US, it shows some of the shifting rhythms of the dollar and the resistance to the dollar initiated by China and Russia.

I thought that in the past, although maybe today it still applies to several countries with the influence of the dollar in the international economic world to advance the country, but after there are candidates who can be said to be capable of fighting US domination in the international economy, today some other countries have let go because maybe the dollar is no longer effective in helping the development of the country.
Yes, it will definitely happen soon, but will America or the Fed be that strong in imposing sanctions, after all, in fact, what sanctions have been imposed on the Russian state, they are still growing and there are still many countries that are cooperating with Russia and need them.

[Smack That Ace]

Another not-so-good news for USD. An Asian country is Malaysia, after declaring that it does not want to depend on the USD, recently, they are also been negotiating with China on establishing the Asian Monetary Fund.

The US domination is coming to an end, I know there are many US and Western fanatics, but I would like to reiterate no empire can stand aloft forever. There will come a time when another force replaces it, and everything begins.
https://www.bloomberg.com/news/articles/2023-04-04/malaysia-china-to-discuss-asian-fund-to-cut-dollar-dependency#xj4y7vzkg

[DrBeer]

....
Thanks to diversification, I was left with the old British pounds. Now I admire them
All countries want to live at the expense of others, and China is no exception.

Based on what data do you talk about China's debt?
https://en.wikipedia.org/wiki/List_of_countries_by_external_debt
How far is Russia behind the US and Europe? Gay parades are banned in Russia. We don't need it in Russia  

I answer:


About diversification - you can expand more
Dollars, euros, Swiss francs (I like it very much), gold, crypto, liquid real estate, land. This is my take on this solution


1. China, public debt to GDP - 76.9%
2. In physical terms - 2452.8 billion USD

On the one hand, China's external debt has SIGNIFICANTLY decreased since 2109
https://en.wikipedia.org/wiki/%D0%A1%D0%BF%D0%B8%D1%81%D0%BE%D0%BA_%D1%81%D1%82%D1%80%D0 %B0%D0%BD_%D0%BF%D0%BE_%D0%B2%D0%BD%D0%B5%D1%88%D0%BD%D0%B5%D0%BC%D1%83_%D0%B4 %D0%BE%D0%BB%D0%B3%D1%83

On the other hand, he "transformed".
The total volume of loans in the non-financial sector of China in the second quarter of 2022 reached $51.87 trillion, according to the Bank for International Settlements (BIS). The level of debt is almost three times the country's GDP (295%) and is the highest for China since 1995.
https://stats.bis.org/statx/srs/table/f1.1

This, of course, is not correct to refer to the external debt of the state, but this is the DEBT of the Chinese economy.

At the same time, you probably know that in 2022, a huge scandal and crisis broke out in China in the construction sector, which led to huge problems in other sectors of the economy, the total amount of unfulfillable obligations for only 3 leading construction companies amounted to more than 13 trillion dollars.

If compared with the external debt of the United States, then it is very much leveled by the obligations of other countries to the United States, where the balance is in favor of the United States.

And again - the debts of an export-oriented economy, which depends on the Western consumer market, and Western technologies, it is not correct to compare with the debt of the world's leading country in all respects, I agree with the nominal size of the public debt too But the United States can "print" as many dollars as they need, the surplus will be consumed by the same China, India and many other countries, whose economy without the dollar will stagnate and degrade.

Here I will add - this is in a situation with a functioning US economy. If in 2019-2021, after the covid pandemic, the US economy really "sank", and the printing of money led to noticeable inflation, now the economy is on its feet, and there are no such problems.


Regarding gay parades banned in Russia. Are these all indicators of greatness? Does Russia have any other competitive advantages? It looks like it's the only one!

https://www.tripadvisor.ru/Attractions-g298484-Activities-c20-t103-Moscow_Central_Russia.html - these are those that are officially on tripadvisor, in fact - much more And this is the situation in all cities of Russia up to the far north: )

By the way, there were interesting statistics of PornHub - in the top three / top five in terms of visiting gay content, there were ... residents of Russia. Missed parades - pay attention

[nimogsm]

I think it’s too early to draw conclusions, since the issue is actually quite complicated. As far as I understand, everything is at the contract stage but not yet applied. It will be about commodities that are mainly supplied by Russia, what payments will be for other services and sales is not completely clear. There is also a factor of sanctions that quite strongly affects their external economy and new packages can be announced at any time. Therefore, it is very difficult to predict what effect will be final in this situation.

[cabron]

Is Gay parade an advantage for a country?
Human rights laws is really messing up everything in this world. The gays got more rights to get fairness and justice and are allowed to party naked on the streets while people in Iraq can not even shout justice for those who are bombed.

Dedollarization is happening that even the NATO members are visiting China to make arrangements. Dollar is strong but its also the reason why they are ditching it.

In a way, the government will not force people to use CBDC after all, people would rather be using FEDnow or the CBDC than using the BRIC'S new currency.

[eaLiTy]

~
Oh, China, you sneaky little devil! Trying to replace the mighty dollar with your yuan? Good luck with that! You think you can just bully the non-smart countries into using your currency and exporting your inflation? Think again!

You better need to evaluate facts, dollar was considered as a global currency when they were literally backed by gold and it all happened after the second world war. Now look at the economical situation of US, banks failing left and right and the government is printing money out of thin air for decades and why would the rest of the world suffer due to their dumb economic policies and dollar is a tool to implement sanctions because they are not dancing to their tone, it has to change and change is happening with Saudi settling oil money in local currencies and there is a proposed gold backed currency in talks by BRICS.

US had the power for the longer period and before that it was the UK, the power dynamics changes if you look at history.

 We already suffered badly on a global scale in 2007 because of the dumb policies and we cannot take chance all the time and it is time to shift the power dynamics as they have many inner issues to sort before lecturing the world.

[Sarah Azhari]

What does this new development make for the US economy and the US dollar in the coming days and years to come

Maybe Dollar will be going to bankrupt?, but it looks impossible for the next 2 or 5 years because the dollar is ingrained in each country in the world. Other countries will not be easy to move or change the currency from Dollar to Yuan, As we know US won't just let those countries become world power to replace US hegemony so that mission will get obstacles from allies.

But if happen, and Yuan uses the same way (printing money without underlying) the result is the same as Dollar. there is no change whatsoever for developing countries.