[RiseofAsia]

https://www.straitstimes.com/world/china...0greenback.

[theold]

What you are seeing might be the changing of the world's financial order.

[RiseofAsia]

Biden is going to panic liao.
Even his neighbour also never give him face.
This will have a domino effect in South America countries.

[Tangsen]

Nothing wrong with the buyers and the sellers dictating the terms of payment.

[Levin]

Makes sense to ditch a middle-currency. Transactions will be cheaper.

[sgbuffett]

This means both currencies will sink together.

[Levin]

This means both currencies will sink together.

Hah? No lah. Indonesia, Phillipines, Singapore, Thailand and several other countries are slowing ditching the intermediary currency for cheaper and faster transactions. Don't think their currencies moved much either way due to these moves.

[cityhantam]

This means both currencies will sink together.

Come back and look at your statement again to see how good your prediction is! 

[sgbuffett]

Hah? No lah. Indonesia, Phillipines, Singapore, Thailand and several other countries are slowing ditching the intermediary currency for cheaper and faster transactions. Don't think their currencies moved much either way due to these moves.

Without a universally accepted currency trade is hindered badly.

You basically have to keep so many currency for trade it will be a mess. Now China has to keep Rupiah, Peso, etc. Then when it needs to buy oil, oil is price in US$ and producers accept US$, they need to dump these other currencies to get US$...and soon

[cityhantam]

中俄沙印去美元化削弱美債？拜登無力阻止習近平新秩序？ 新聞大白話@tvbstalk 20230330
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[Levin]

Without a universally accepted currency trade is hindered badly.

You basically have to keep so many currency for trade it will be a mess. Now China has to keep Rupiah, Peso, etc. Then when it needs to buy oil, oil is price in US$ and producers accept US$, they need to dump these other currencies to get US$...and soon

That's why they are doing it step by step. It's not as if 100% of the trades between 2 countries who agree to ditch an intermediary currency will have NO intermediary currency the next day. It will take years, maybe even decades. But it's definitely a right step to reduce costs and time taken for transactions. That's why quite a few countries are doing it now including Singapore. Takes time though.

[cityhantam]

天天硬事3117期—01 巴西宣布中巴双边贸易将用本币结算不用美元，拉美狂潮开始了大宗商品人民币化拉开了序幕 02 美国众议院通过中华人民共和国不是发展中国家法，天下变局之下美国仍沉迷于自身
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[teaserteam]

They are BRICs anyway.  Must help each other lah. Cannot say no.