Dont laugh!
Chinese fintech already going to kill USD dominance lah.
Now with bigger gang, the impact will be even greater. Foolish US makes a stupid mistake to “makan” Russia asset”. It is irreversible now, more and more countries are losing confidence in USD…
I think it's a giod attempt...for some other purpose than challenging USD
But the day of supplanting USD is very far away.
I explained many times using Yuan or brics currency for trade has almost zero impact on status of USD.
Why?
USD loans dominate the debt markets ...creating demand for USD as it is needed to repay debts.
Everything else.pales by comparison.
As for Yuan. Is China willing or dare to open up ots economy like US? China has to remove its currency controls. That can mean the downside risk is very high as it makes China prone to events such as collapse.or British pound or the US financial crisis.
All these efforts are more to protect the assets of BRICs nations to keep it outside systems like SWIFT controlled by the West. It is a long way from challenging dominance USD.
Don't have to reinvent the wheel
Copied wholesale
BRICS are well protected and avoid US sanction and money trail or freeze assets
Feeding money buying Treasury Bonds over donkey years for US to grow in power and no logic, BRICS at US mercy..
Fake news fake news...
Need some advice how to google for fact check article to use papaganda to "debunk" papagranda lololololol....