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Move to de-dollarise

Nambiar agreed that Malaysia’s decision to join BRICS suggests that Asean nations are hedging their bets to “de-dollarise” given that Washington has weaponised the US dollar through the increasing use of unilateral sanctions.

In the interview with Guancha, Anwar backed comments by Brazilian president Luiz Inacio Lula da Silva criticising the dominance of the US dollar in international trade.

“Last year Malaysia had the highest investment ever, but the currency was still attacked. Well, it has eased in the past few weeks. But it doesn’t make sense, it goes against basic economic principles,” he said.

Nambiar said Anwar has clearly stated that Malaysia should explore de-dollarisation and even supported the idea of an Asian Monetary Fund.

I think Malaysia really means business in De dollarisation. Bolei..👍

Talk only as they wanted to join BRIC.  The traders will go with whichever currency can bring the best benefit to them.  CNA has an article about Chinese traders don't want to use Yuan for trading.    Can't blame them when Yuan exchange rate with USD kept dropping.

https://www.channelnewsasia.com/east-asi...ey-4370181