Iadegbola34 (OP)
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April 10, 2023, 09:50:52 AM |
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Over-reliance on the US dollar can have several negative effects on countries that heavily depend on it as their primary reserve currency. With the expansion of BRICS (Brazil, Russia, India, China, South Africa), there has been a growing trend of countries diversifying their reserves away from the US dollar and towards other currencies, including the Chinese yuan.
One of the primary effects of over-reliance on the US dollar is that it can make a country vulnerable to fluctuations in the value of the dollar. If the dollar weakens, the value of the country's reserves also declines, which can have negative implications for their economy.
Furthermore, being too dependent on the US dollar can limit a country's ability to conduct international trade with other countries that use different currencies. This can lead to increased transaction costs, as well as make it more difficult to negotiate favorable trade agreements.
In relation to China's expansion of the BRICS, their efforts to promote the use of the yuan as an alternative to the US dollar could potentially have several positive effects for countries that adopt it. For example, it could lead to increased trade with China, which is currently the world's largest exporter. It could also reduce the vulnerability of countries to fluctuations in the value of the US dollar.
However, there are also potential risks associated with China's expansion of the BRICS, particularly with regard to its geopolitical ambitions. Some countries may be concerned about the growing influence of China and its potential use of economic leverage to achieve political goals.
Overall, over-reliance on the US dollar can have negative implications for countries that heavily depend on it, and the expansion of the BRICS could provide an opportunity for countries to diversify their reserves and reduce their vulnerability to fluctuations in the value of the US dollar. However, there are also potential risks associated with this shift, particularly with regard to China's growing economic and geopolitical influence
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Dr.Bitcoin_Strange
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April 10, 2023, 03:01:27 PM |
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Over-reliance on the US dollar can have several negative effects on countries that heavily depend on it as their primary reserve currency. With the expansion of BRICS (Brazil, Russia, India, China, South Africa), there has been a growing trend of countries diversifying their reserves away from the US dollar and towards other currencies, including the Chinese yuan.
One of the primary effects of over-reliance on the US dollar is that it can make a country vulnerable to fluctuations in the value of the dollar. If the dollar weakens, the value of the country's reserves also declines, which can have negative implications for their economy.
Furthermore, being too dependent on the US dollar can limit a country's ability to conduct international trade with other countries that use different currencies. This can lead to increased transaction costs, as well as make it more difficult to negotiate favorable trade agreements.
In relation to China's expansion of the BRICS, their efforts to promote the use of the yuan as an alternative to the US dollar could potentially have several positive effects for countries that adopt it. For example, it could lead to increased trade with China, which is currently the world's largest exporter. It could also reduce the vulnerability of countries to fluctuations in the value of the US dollar.
However, there are also potential risks associated with China's expansion of the BRICS, particularly with regard to its geopolitical ambitions. Some countries may be concerned about the growing influence of China and its potential use of economic leverage to achieve political goals.
Overall, over-reliance on the US dollar can have negative implications for countries that heavily depend on it, and the expansion of the BRICS could provide an opportunity for countries to diversify their reserves and reduce their vulnerability to fluctuations in the value of the US dollar. However, there are also potential risks associated with this shift, particularly with regard to China's growing economic and geopolitical influence
OP, it's not overreliance on the dollar that's making its value decline; the value is declining with respect to the inflation shift, which is a result of the high volume of the dollar that's being printed. The volume of dollars that are in circulation is really greater than their demand, and if those dollars are retracted, they will add more value to dollar and not have to greatly affect the economic. Inflation increased by 9.1% last year, and it was said that that's the biggest increase in over 40 years. What really contribute to these inflation is because the money supply has increased by about 7.7% per year since 2008, and the cause of this is still the higher growth of bank reserves and the money that is controlled by the Federal Reserve. At this point in time, the current cause of the devaluation and inflation is because the money in circulation has grown faster than the goods produced in the economy. The citizens of countries that use the dollar cannot use any other country's bank note in their country, so what other currency can they utilize to purchase things and also do other things if not dollar? The problem here is the high volume of dollars that are printed every year, and if the money is retained,dollar purchasing power will strengthen and cause deflation on the price of things as well. If the federal government so desires, it can exert control over the process. Bitcoin is the solution. OP, you can still read these threads to get more insight into what I have said.
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Yogee
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April 10, 2023, 03:13:42 PM |
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[.....] Some countries may be concerned about the growing influence of China and its potential use of economic leverage to achieve political goals.
It's strange that you mentioned this on China but didn't put it as one of the main weapons of the US when pressuring other countries to follow their demands. They have been leveraging this for years after the WW2 using economic sanctions and it seems this is also the reason why other nations are shifting or applying to become part of BRICS.
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Smartprofit
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April 10, 2023, 09:11:43 PM |
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In my opinion, the weakening of the role of the US dollar as a world reserve currency is connected with global world events.
Currently, there is a slowdown in the growth of the world population. Until 1976, the human population grew exponentially. However, after 1976, the population growth of planet Earth began to slowly slow down. Currently, we are already seeing negative population growth in many countries of the world, only some countries in Africa and the Arab world are maintaining population growth.
Very soon the number of people on our planet will stop growing. This has global consequences, since capitalism, as a social system, is based on a constant increase in the number of people (potential consumers of goods, works and services).
In addition, uniform (very high) consumption standards were established almost throughout the planet Earth. These standards are based on the consumption of the most developed countries on Earth (USA, European Union, Australia, etc.). At the same time, the resources of the planet are not able to provide such standards of consumption for 8-10 billion of the world's population.
As a result, an irresolvable contradiction arose. Capitalism, as a social system, is no longer able to fulfill the dream of 8 billion people for a better life. Accordingly, the United States, as the leader of the Western capitalist world, is losing its former leading role. And many countries are seeking to distance themselves from the US dollar and try to solve their economic problems on their own.
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Zaguru12
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April 10, 2023, 09:32:05 PM |
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In relation to China's expansion of the BRICS, their efforts to promote the use of the yuan as an alternative to the US dollar could potentially have several positive effects for countries that adopt it. For example, it could lead to increased trade with China, which is currently the world's largest exporter. It could also reduce the vulnerability of countries to fluctuations in the value of the US dollar.
However, there are also potential risks associated with China's expansion of the BRICS, particularly with regard to its geopolitical ambitions. Some countries may be concerned about the growing influence of China and its potential use of economic leverage to achieve political goals.
Overall, over-reliance on the US dollar can have negative implications for countries that heavily depend on it, and the expansion of the BRICS could provide an opportunity for countries to diversify their reserves and reduce their vulnerability to fluctuations in the value of the US dollar. However, there are also potential risks associated with this shift, particularly with regard to China's growing economic and geopolitical influence
I don’t see many of these countries moving towards the yuan currency because they feel that dollar is actually facing problems, that will be giving another currency a central power like the one the dollars has now. What this countries are political after is to cut the power of the dollar and look for means to trade internationally in many currencies to avoid a single currency crisis. That is why countries like Saudi are looking at the possibility of accepting other currencies for their oil trade and not just the dollar. It is not even dollar alone that is facing the much depreciation almost every currency is having a bad period and that is Also why we have seen countries have shifted from holding their reserves in fiats and have moved towards assets like the Gold for reservations
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slapper
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April 11, 2023, 05:52:04 AM Last edit: July 17, 2023, 03:18:03 AM by slapper |
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I'm not totally convinced that putting more stock in the yuan and other currencies is the best solution to our reliance on the dollar. Yes, sticking with the dollar can restrict a country's ability to trade internationally with other countries that use various currencies. Do we really need to diversify?
Not so fast, there are risks associated with China's BRICS expansion that must not be ignored. Rising Chinese economic and geopolitical influence may inflame international tensions and even lead to war. Who knows what economic conditions China might impose on countries that adopt the yuan?
Scepticism and critical analysis are two of my favourite things. When it comes to the global economy, it's crucial that we weigh the benefits and drawbacks of every potential action. Rather than relying on many currencies, perhaps we should create ways to do so. Although we can't know what is ahead, we can always count on the benefits of being cautious and sceptical
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EarnOnVictor
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April 11, 2023, 07:25:16 AM |
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What I've been reading of late on the economics section by the newbies on new topics baffles me, many of them shouldn't have been written to be candid. This is one of them, because if the USD is not the world's reserve and the most recognised currency, which currency would you nominate that would serve the decades of stability?
For the world to have relied on the USD for this long means that it's reliable. But no currency would have its uptime without downtime, yet the greenback has done its job quite well amidst all that. And from my experience of FX trading of almost two decades, there is no currency that is as stable as the USD. China, Russia and others are only rebelling as they are jealous of the US and the USD's power and dominance in the global stance.
I dare them to press further if their investors will not cut their huge losses over years.
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Darker45
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April 11, 2023, 08:08:30 AM |
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Over-reliance to a foreign currency is, of course, not good. But this applies not just to the USD but also to other currencies like the Chinese renminbi, the euro, pound, Japanese yen, Indian rupee, and so on. So a shift to the Chinese yuan as a way to address over-reliance on the US dollar is not any different. For one, it still means that whatever happens to a foreign currency and its economy and even its socio-political environment will still have an impact on a country's own economic situation.
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Die_empty
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April 11, 2023, 08:49:50 AM |
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What I've been reading of late on the economics section by the newbies on new topics baffles me, many of them shouldn't have been written to be candid. This is one of them, because if the USD is not the world's reserve and the most recognised currency, which currency would you nominate that would serve the decades of stability?
Do nations really need to have a financial reserve in a particular currency of a nation? What are the implications of having reserves in multiple currencies? The dollar has been very stable because the US and its allies have always controlled the world economy. Currently, more nations like China and others have built their economy and they also want to control some segments of the world's economy. Over-reliance to a foreign currency is, of course, not good. But this applies not just to the USD but also to other currencies like the Chinese renminbi, the euro, pound, Japanese yen, Indian rupee, and so on. So a shift to the Chinese yuan as a way to address over-reliance on the US dollar is not any different. For one, it still means that whatever happens to a foreign currency and its economy and even its socio-political environment will still have an impact on a country's economic situation.
You just spoke my mind. It will be better to have a common currency that every nation will use for international trade. Alternatively, let all the nations of the world be willing to accept the local currencies of others regardless of the economic power of the such nation. China's and BRICS' intention is not to help developing nations but to make them rely on their proposed common currency. China is also seeking to make its currency as powerful as the dollar. If you analyze the intention of these anti-dollar forces, you will discover that they also have a political undertone. Developing nations remain the prey to these big nations. But smart leaders in these third-world nations could use this power tussle between these world powers to secure favorable bilateral trade deals.
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DrBeer
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April 11, 2023, 11:53:25 AM |
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Over-reliance on the US dollar can have several negative effects on countries that heavily depend on it as their primary reserve currency. With the expansion of BRICS (Brazil, Russia, India, China, South Africa), there has been a growing trend of countries diversifying their reserves away from the US dollar and towards other currencies, including the Chinese yuan.
One of the primary effects of over-reliance on the US dollar is that it can make a country vulnerable to fluctuations in the value of the dollar. If the dollar weakens, the value of the country's reserves also declines, which can have negative implications for their economy.
Furthermore, being too dependent on the US dollar can limit a country's ability to conduct international trade with other countries that use different currencies. This can lead to increased transaction costs, as well as make it more difficult to negotiate favorable trade agreements.
In relation to China's expansion of the BRICS, their efforts to promote the use of the yuan as an alternative to the US dollar could potentially have several positive effects for countries that adopt it. For example, it could lead to increased trade with China, which is currently the world's largest exporter. It could also reduce the vulnerability of countries to fluctuations in the value of the US dollar.
However, there are also potential risks associated with China's expansion of the BRICS, particularly with regard to its geopolitical ambitions. Some countries may be concerned about the growing influence of China and its potential use of economic leverage to achieve political goals.
Overall, over-reliance on the US dollar can have negative implications for countries that heavily depend on it, and the expansion of the BRICS could provide an opportunity for countries to diversify their reserves and reduce their vulnerability to fluctuations in the value of the US dollar. However, there are also potential risks associated with this shift, particularly with regard to China's growing economic and geopolitical influence
And I'll explain ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) You are missing a very important point. You do not notice one very subtle nuance. While some are rejoicing at the supposedly "accomplished punishment of the United States" (though it is not clear why), in fact, a process is taking place that not everyone has realized yet. And when they realize - the way back will be very difficult and thorny. China, having taken the place of the second superpower (Russia turned out to be a complete fake), decided to gather vassals / servants / raw material appendages around itself, who are very excited about the idea of "destroying the dollar", and in their fantasies it means the USA ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) China is smart, it is now simply manipulating less intelligent "guinea pigs", and removes them from dependence on the dollar, which is used by the entire civilized world, and makes them dependent on ... YUAN! With all this, China itself does not refuse the dollar! He is not an idiot - to lose the opportunity to interact with the world market and the leading economies! I think that in the wake of the “we will destroy the dollar” hysteria, China will be able to very quickly drive all “friends in the fight against the dollar” into a stall, I think these unfortunate people will lose the dollar in the gold reserves by 2024, and will become complete, obedient slaves of the yuan ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) The funny thing is that these unfortunates are pushing themselves to this, deceiving themselves with some stupid fantasies ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Flexystar
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April 11, 2023, 12:05:54 PM |
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Choose any other country but not China for sure. I am using products in my office which are mostly imported from the USA or European parts because of the quality they provide. We tried a few imports from China but they are horrible in quality and reliance. I am not sure how they did it, but it's all about bulk manufacturing which is keeping China at its peak. The only power China has is its huge population and its willingness to work with the lowest wagers that it can get.
It's hard to find countries accepting Yuan as the currency reserve. If I would have been in any of those countries, I would just shift to the country where USD is accepted. Lolz.
Anyways, China can not take over OR compete with USD for sure. USA has been in the business for ages and it can not be shifted just like that. Imagine the chaos that other countries will have to bear during such reserve.
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Darker45
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April 11, 2023, 01:11:46 PM |
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Over-reliance to a foreign currency is, of course, not good. But this applies not just to the USD but also to other currencies like the Chinese renminbi, the euro, pound, Japanese yen, Indian rupee, and so on. So a shift to the Chinese yuan as a way to address over-reliance on the US dollar is not any different. For one, it still means that whatever happens to a foreign currency and its economy and even its socio-political environment will still have an impact on a country's economic situation.
You just spoke my mind. It will be better to have a common currency that every nation will use for international trade. Alternatively, let all the nations of the world be willing to accept the local currencies of others regardless of the economic power of the such nation. A common international currency is essentially the spirit behind the Bretton Woods system, the very system that established the US dollar as the world's reserve currency. Precisely, it was proposed by John Maynard Keynes that an international currency be created. He wanted to call it the Bancor. However, it didn't happen, and instead of a new international currency, the USD was assigned the role. As to the alternative that you mentioned, it simply isn't possible at all, because of how unstable other local currencies and economies are. Who would trade with Venezuela or Zimbabwe, for example? Who would trust their local currencies? China's and BRICS' intention is not to help developing nations but to make them rely on their proposed common currency. China is also seeking to make its currency as powerful as the dollar. If you analyze the intention of these anti-dollar forces, you will discover that they also have a political undertone. Developing nations remain the prey to these big nations. But smart leaders in these third-world nations could use this power tussle between these world powers to secure favorable bilateral trade deals. China's goal certainly isn't only economics. It is power. It is influence. It has hegemonic ambitions. Yes, of course, developing nations are always at the receiving end of the world's power struggle in which the major players are the most powerful countries. While these poor countries could benefit from this competition, they're also the ones that could easily be made hostage, bullied, and the most to suffer when the economic competition turns into a war.
1. https://www.investopedia.com/articles/forex-currencies/092316/how-us-dollar-became-worlds-reserve-currency.asp2. https://www.investopedia.com/terms/b/brettonwoodsagreement.asp
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hyudien
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April 11, 2023, 01:34:29 PM |
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[.....] Some countries may be concerned about the growing influence of China and its potential use of economic leverage to achieve political goals.
It's strange that you mentioned this on China but didn't put it as one of the main weapons of the US when pressuring other countries to follow their demands. They have been leveraging this for years after the WW2 using economic sanctions and it seems this is also the reason why other nations are shifting or applying to become part of BRICS. During Biden leadership, US policy and strength were always considered weak, therefore now the BRICS alliance dared to openly oppose the dollar and what was more interesting was when Trump said in the press that the US dollar would eventually be replaced by the Chinese Yuan. The BRICS coalition is not playing games and indeed already has great strength plus their invitation to the Middle Eastern countries has been very convincing. The weakening US Dollar proves that Biden is too soft to deal with threats in the West. This will be a challenge for the US to be more aggressive in the economic sector. BRICS is already running well and other Asian countries will also join in, especially since there is an inextricable relationship with trade contracts with China.
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concept2
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April 11, 2023, 02:26:47 PM |
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Over-reliance on the US dollar can have several negative effects on countries that heavily depend on it as their primary reserve currency. With the expansion of BRICS (Brazil, Russia, India, China, South Africa), there has been a growing trend of countries diversifying their reserves away from the US dollar and towards other currencies, including the Chinese yuan.
One of the primary effects of over-reliance on the US dollar is that it can make a country vulnerable to fluctuations in the value of the dollar. If the dollar weakens, the value of the country's reserves also declines, which can have negative implications for their economy.
Furthermore, being too dependent on the US dollar can limit a country's ability to conduct international trade with other countries that use different currencies. This can lead to increased transaction costs, as well as make it more difficult to negotiate favorable trade agreements.
In relation to China's expansion of the BRICS, their efforts to promote the use of the yuan as an alternative to the US dollar could potentially have several positive effects for countries that adopt it. For example, it could lead to increased trade with China, which is currently the world's largest exporter. It could also reduce the vulnerability of countries to fluctuations in the value of the US dollar.
However, there are also potential risks associated with China's expansion of the BRICS, particularly with regard to its geopolitical ambitions. Some countries may be concerned about the growing influence of China and its potential use of economic leverage to achieve political goals.
Overall, over-reliance on the US dollar can have negative implications for countries that heavily depend on it, and the expansion of the BRICS could provide an opportunity for countries to diversify their reserves and reduce their vulnerability to fluctuations in the value of the US dollar. However, there are also potential risks associated with this shift, particularly with regard to China's growing economic and geopolitical influence
Thanks for spilling the tea on how relying too much on the dollar can be both good and bad. I gotta say, I'm loving how the BRICS are shaking things up. It's about time we diversify our reserves and make ourselves less vulnerable to fluctuations. Plus, who doesn't love new opportunities for trade and growth, amirite? Personally, I'm feeling the Chinese yuan as a dope alternative reserve currency. China is already killing it in exports, and if they start promoting the yuan, it could be a game-changer for trade and investment. But let's not ignore the fact that China's getting more and more powerful, and that could cause some problems for other countries. Basically, countries need to do their homework before jumping into the currency game. Sure, there are risks involved, but I think the potential gains are worth checking out.
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ancafe
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April 11, 2023, 02:44:26 PM |
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In relation to China's expansion of the BRICS, their efforts to promote the use of the yuan as an alternative to the US dollar could potentially have several positive effects for countries that adopt it. For example, it could lead to increased trade with China, which is currently the world's largest exporter. It could also reduce the vulnerability of countries to fluctuations in the value of the US dollar.
Your statement is more political to respond to, dependence on the dollar depends on how your country builds cooperation with that country, it is a reflection of dependence on the real side and cannot be avoided when international cooperation has been built by your country. Have read in some news that Russia, China and India are planning to leave the US Dollar in terms of trade between countries and even they are designing payments using a new currency. But is this a solution to get out of trouble because we know that geopolitics always plays a role of interests and I'm afraid this is a new move to dominate. Russia and China are countries that have the same desire to master diplomacy, trade (economics) and technology.
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DrBeer
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April 11, 2023, 05:06:34 PM |
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Choose any other country but not China for sure. I am using products in my office which are mostly imported from the USA or European parts because of the quality they provide. We tried a few imports from China but they are horrible in quality and reliance. I am not sure how they did it, but it's all about bulk manufacturing which is keeping China at its peak. The only power China has is its huge population and its willingness to work with the lowest wagers that it can get.
It's hard to find countries accepting Yuan as the currency reserve. If I would have been in any of those countries, I would just shift to the country where USD is accepted. Lolz.
Anyways, China can not take over OR compete with USD for sure. USA has been in the business for ages and it can not be shifted just like that. Imagine the chaos that other countries will have to bear during such reserve.
But China is not going to compete. China needs a group of "spacers" countries that will ensure its economic stability! And China, as a drug dealer, "puts" these fools on a drug under the name "yuan". And then - these fools become hostages of shackles and handcuffs named Yuan. As you understand, the BRICS countries are now giving away dollars from their reserves to the tune of China, and replacing it with the yuan. At a certain moment, when they will be completely dependent, break ties with the world economy, China will simply tell them - well, now you will only buy my goods and only for my yuan! And these countries will be forced to do it! And how else - there are no dollars, no one needs their local currencies, even China. And "I want to eat," but the only currency is the yuan. The question is, who will they buy from? ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) When such a game takes place, one must understand who is the ultimate beneficiary...
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EarnOnVictor
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April 12, 2023, 06:52:51 AM |
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Do nations really need to have a financial reserve in a particular currency of a nation? What are the implications of having reserves in multiple currencies? The dollar has been very stable because the US and its allies have always controlled the world economy. Currently, more nations like China and others have built their economy and they also want to control some segments of the world's economy.
I expected more from you. How could you say the USD has risen to its status because the US always control the world's economy? They can't do the magic, they rose to the level by actions and inactions. You might have an influence on the world's economy and through your policies cause havoc. I don't know how people like to heat up the polity for no just reason, but thankfully, the world's economists always see it differently and see the US as deserving, which is why I laugh at critics. Any country can plan their affair and flourish, which is what the US did and is doing and attracts more investors in the economy and their currency, so it's practical. In other words, the USD is reliable due to the US's wisdom of getting things mostly rightly done, not because they are superpowers or controlling. Other competing countries are free to do the same.
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Bushdark
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April 12, 2023, 07:05:14 AM Merited by fillippone (1) |
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[.....] Some countries may be concerned about the growing influence of China and its potential use of economic leverage to achieve political goals.
It's strange that you mentioned this on China but didn't put it as one of the main weapons of the US when pressuring other countries to follow their demands. They have been leveraging this for years after the WW2 using economic sanctions and it seems this is also the reason why other nations are shifting or applying to become part of BRICS. We soon going to opt out from the era of the US dollar which had been given countries unnecessary sanctions if they don't do what they want. US is always proud to call other countries corrupt when they are the major problem why the Russian Ukraine war had not ended. Why would the US sending ammunitions to Ukraine gingering there moral not to negotiate with Russia to end the war. So many things are happening and we seem not to understand what is going on. When I would not be that happy if the US dollar is dumped by major countries of the world because of the irregular activities of the US to have major control of the world. I am already in free mode to accept whatever happens if the US currency end up not having any values. Choose any other country but not China for sure. I am using products in my office which are mostly imported from the USA or European parts because of the quality they provide. We tried a few imports from China but they are horrible in quality and reliance.
We can't even go for the Chinese currency if we are going to have opinion to go for strong and stable currency. We would prefer the Euro to be use than opting for the Chinese yuan.
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DrBeer
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April 12, 2023, 03:39:16 PM |
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It's hard to find countries accepting Yuan as the currency reserve. If I would have been in any of those countries, I would just shift to the country where USD is accepted. Lolz.
Anyways, China can not take over OR compete with USD for sure. USA has been in the business for ages and it can not be shifted just like that. Imagine the chaos that other countries will have to bear during such reserve.
The list of countries, by a strange coincidence, fully corresponds to the BRICS list, plus a few more unfortunate ones ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) The currency can act as a reserve only if they are really backed - for example, the Dollar and the Euro - are provided with the most powerful economies, leadership in technology, high incomes, an excellent consumer market, political and military weight. Or be "unique" like the Swiss franc. If the country does not correspond to the one described above, the status of a reserve currency can be made only for a small group of countries, and then only by force or deceit. The second way was chosen by China. I do not want to offend the Chinese industry - but in most cases the products are not bad, but ... Far from high quality. And as a rule, these are niche products and products. And as you understand, the current situation with the Chinese economy requires URGENT measures to save it. Due to internal processes, this is almost impossible to do. But in the presence of "dependent" markets - this is easily and quite qualitatively solved. And let me remind you once again - despite the fact that China in every possible way supports the movement "abandon the dollar", he himself does not refuse it - oriental wisdom and the ability to manipulate not very smart "partners" ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Iroh
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April 12, 2023, 04:20:24 PM |
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Furthermore, being too dependent on the US dollar can limit a country's ability to conduct international trade with other countries that use different currencies. This can lead to increased transaction costs, as well as make it more difficult to negotiate favorable trade agreements.
Almost all countries have and use a different currency and has been trading with other nations before now. I don’t think it would limit the ability of a country to conduct trade internationally like you think. There would not be any limit cause the dollar is still very much backed and still accepted for trade by major economies of the world. I think being solely dependent on a single thing(currency or oil as a energy source) isn’t a good thing. When change finally comes sweeping in and it would surely come, it would be difficult to switch or adapt to a new alternative.
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█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ████████▄▄████▄▄░▄ █████▄████▀▀▀▀█░███▄ ███▄███▀████████▀████▄ █░▄███████████████████▄ █░█████████████████████ █░█████████████████████ █░█████████████████████ █░▀███████████████▄▄▀▀ ███▀███▄████████▄███▀ █████▀████▄▄▄▄████▀ ████████▀▀████▀▀ █▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀BitList▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . REAL-TIME DATA TRACKING CURATED BY THE COMMUNITY . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀List #kycfree Websites▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ |
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