08-04-2023, 02:42 PM
It makes sense to settle imported products with that exported country's currency than settle in USD. But what's missing is still hv to use exchange rate of USD vs export country s currency n USD vs imported county s currency to derive at a settled rate. So on paper no USD involved but still it's a reference currency. Highly dangerous what if eg China print print print lots of RMB to settle the trade with no gold backing. Isn't it back to square one?