China and Russia agrees to replace USD with Yuan

[Yugocean]

The Chinese government is trying hard to get its allies to use yuan instead of dollars, and this is going to hit the US hard. Recently, the Chinese President made a visit to Russia under the pretext of stopping the war, but instead he did business talk with Putin to do business in Yuan.​

What do you think about where this deal will take them?

 

[relcap23]

It could be another step towards dominating global economy. But US dollar is still the benchmark of all currencies.

 

[Shavkat]

I do not think they can replace USD. It will take time or longer time for them to realize the huge impact if it is true. They need to convince other countries to materialize their goal on this matter.

Post automatically merged: Mar 23, 2023

It could be another step towards dominating global economy. But US dollar is still the benchmark of all currencies.

It has been many years ago that Chinese people claiming to be the best country in the world. In my view, it needs more time to have this aspiration. I hope coronavirus is not the sign of bending the economy done by them.

 

[relcap23]

The virus that halted the world. They didn't succeed at controlling the world.

 

[riberet19]

It is a clear strategy to weaken the hegemony of the United States just at the moment when the country is increasingly weak economically and politically, in addition to that the yuan and the ruble I heard that they want to back it with real gold, which if it is real gives a value to both currencies that the dollar does not have since it is only subject to promises and debt, So they just want people to migrate to their currencies, will they get it? I don't know

 

[Etini Willie]

The Chinese is making one final push to become the world's economic powerhouse with this move. I don't think this would work as Russia and it's other allies are just a fragment of the world population.

 

[riberet19]

The Chinese is making one final push to become the world's economic powerhouse with this move. I don't think this would work as Russia and it's other allies are just a fragment of the world population.

The US block and its allies are increasingly damaged and this is just one more move on the board to gradually weaken the US, it is a war without weapons between the two.

 

[Golden9]

It will be a long and arduous journey, especially for developing countries that import a lot of what they need from these countries. When the elephants fight, it's the grass that suffers.

 

[Starmix]

I prefer US Dollar than Yuan. Yuan is too small when convert it to Philippines peso. It maybe good for Russia but how could it works there on their brink of war.

 

[eldavis]

I believe this movement have been in motion for some time now if am not mistaken. Some years back i heard a similar news about this, but i guess their plans still failed.

 

[Ratine]

That is very nice to hear. I think the economy between the country would be so high to say.

 

[Kosi G]

My country still holds dollar in a very high pedestal. I doubt my country can ditch the United States dollars for international transaction.