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19-12-2022, 11:19 PM
In my opinion, these are moves by the respective countries to rely less on the Usd in their trades.
However, I doubt it will be a big bang kind of thing. That would be very disruptive and could lead to lots of problems.
It is not easy to dethrone a Reserve Currency overnight or even in the not too distant future, unless there is a crisis of confidence in that currency.
It would probably be a bilateral arrangement to trade in Yuan payments as an alternative to the Usd if both agree.
Currently, it is very difficult to dethrone the Usd as a Reserve Currency. The key will be international confidence and acceptance of a currency to be a Reserve status. IMHO, at best, it will take a long time to do so.
However, I doubt it will be a big bang kind of thing. That would be very disruptive and could lead to lots of problems.
It is not easy to dethrone a Reserve Currency overnight or even in the not too distant future, unless there is a crisis of confidence in that currency.
It would probably be a bilateral arrangement to trade in Yuan payments as an alternative to the Usd if both agree.
Currently, it is very difficult to dethrone the Usd as a Reserve Currency. The key will be international confidence and acceptance of a currency to be a Reserve status. IMHO, at best, it will take a long time to do so.
