The USD has more dominance in any section of economy, trades, stocks, investment, just name it. It is going to be hard for the Yuen as an adopted new currency to outperform and replace the dollar. We talking about world dominance ya all.
It is not a bad idea for BRICS nation and G7 nations to think up an alternative to the dollar because of its current rate, but the thoughts of how the world economy would be affected should be considered. There will of course be a thussle for balance and am sure the U.S financial regulators wouldn't just sit around and let this happen.
So yes, there could be a financial system not dependent on the USD, but not in the next 10years.
Topic: Could there be a new financial system not dependent on USD? - page 2. (Read 946 times)
Source: Tutwa Consulting Group
BRICS nations are advancing at a fast pace to eliminate the U.S. dollar-dominated financial system. The first step is to bypass the U.S. dollar and the second step is to create a new currency to settle international trades. While the first step is already in practice, the second step could be put in place after the BRICS summit in August 2023.
The alliance countries have already taken measures to bypass the US-dominated global financial system. The aim is to move away from the dependency on the U.S. dollar and provide an alternative global financial option. BRICS is an alliance of Brazil, Russia, India, China, and South Africa.
BRICS: The Next Step To Eliminate The U.S. dollar
currency
Source: Unsplash
Just recently, BRICS nations overtook G7 countries in global GDP while taking purchasing power parity into account. Russia announced that it would pay with the Chinese Yuan to settle trade with Asian, African, and Latin American countries. China and France completed the LNG gas trade using Yuan, ending the dollar’s reliance on energy trades.
Therefore, BRICS are currently successful in their plans to eliminate the U.S. dollar to settle global trades in native currencies. However, if the alliance countries agree to a mutual currency to settle global trade in the upcoming summit in August, the dollar may face a significant drop in demand.
The U.S. dollar might lack potency if the BRICS countries fully eliminate it for global settlements. Over time, many other countries could join the bandwagon and distance themselves from the USD.
The development could make the dollar weak and make way for a new financial system not dependent on the USD. The success or failure of this development now only depends on the next BRICS summit in South Africa.
The transition to settlements in national currencies is the first step. The next one is to provide the circulation of digital or any other form of a fundamentally new currency in the near future,” said the Deputy Chairman of Russia Duma, Alexander Bobakov
https://watcher.guru/news/brics-advancing-to-eliminate-u-s-dollar-financial-system
for me it not actually about assets being dependent on the US Dollar. It just happened that dollar is more dominant among other currency which makes it relevant to every transactions and investment. I see it in a way that is all about market correlation. That how forex transactions was affected by inflation, which is affected by bonds, which is affected by companies then stocks, come to indices, then to metals, commodities then other risk assets like real state and BTC.
Well yes, it's important to have this kind of insight because in tackles about global finance but for me keeping it simple works better expeciallt on analyzing an asset. I commend OP and thread contributors of information for their research.
Gaddafi was simply killed for his "golden initiative" of the concept of the gold dinar as an alternative to the petrodollar. So the unfounded empty accusations of South Africa and the threat of sanctions are not yet too harsh a reaction from the United States.
We really need to stop pushing this narrative around. The US and NATO may have had ulterior motives for killing Gaddafi but let's not be out here painting him like a saint. Gaddafi was a ruthless dictator. In no world should a person like Gaddafi be celebrated. Just because he had a few ideas that would have been good for his people doesn't justify the things he did.
Based on the kind of person Gaddafi was, I really doubt that he wanted the "golden initiative" for the good of his people and not for his own personal interest. They all have ulterior motives.
Gaddafi had many sins, but the worst of them, for which he paid with his life, was that he challenged the dollar by proposing the creation of a single African currency backed by gold. Saddam Hussein also had many sins, but the worst of them, for which he paid with his life, was that he challenged the dollar, saying that Iraq would sell oil for the euro. Iran started billing oil in euros in 2003, and Hugo Chavez planned to do so in 2005, and Iran and Venezuela also had some shit.
After the collapse of the Bretton Woods system in the early 1970s, the dollar's post-World War II hegemony began to shake. But fortunately for the United States, Henry Kissinger, during negotiations with Saudi Arabia, developed a simple and ingenious system of "dollar recycling" and in 1975 all OPEC member countries began to sell oil only for the American dollar. And not just sell for dollars, but store them in American banks and buy US Treasury bonds. And the IMF used those dollars to lend money to oil-exporting countries. Bingo! Thanks to this, the reins of government of the world were again in the hands of the United States. And any country that challenges the "dollar recycling" system gets some shit in the form of US troops, sanctions, or a coup d'état. Not because the USA is so bad or evil, it's just that the USA is a very systemic country and this system protects its status quo by all available means, reacting to any threats to its dominant position in the world. Blackmail, bribery, murder - when I say "all available" it means really all available, the system has no moral restrictions inherent in man.
A financial system independent of the dollar is possible - but you have to be prepared to get your share of some shit when you try to implement it.
It's time to change the manual
It is already worn out, some pages are falling out, others are stained with greasy and dirty hands of fans of this delusional reading, and it smells strongly of mothballs About Gaddafi - a fairy tale, it was proved a long time ago
The only thing he did was support terrorism and beautiful sincere speeches, standing on the mountains of the corpses of the people he killed. The results, or rather the last hours of his life, by the way, perfectly showed "the nationwide love of the people for Gaddafi."the rest are the same fairy tales.
Oil is sold for dollars to all who find it profitable and convenient. The same Russia, only thanks to dollars for oil, was able to create the appearance of greatness. Now Russia is selling oil for yuan and rupees - and what, did it help Russia? The price of oil is "on the floor", yuan and rupees are in the banks of China and India, which forbid Russia to change them into dollars. Iran and Russia are switching to barter settlements, because there are no dollars, and the money of these two countries is just beautiful pieces of paper
And the rest, including China, India and others, continue to trade comfortably and conveniently on the international market for dollars!
PS A global financial system is also possible on cowrie shells. The only question is why?
An even deeper rift in relations between the US and the UAE, hence the problems in the effectiveness of the I2U2 alliance, which was created to counter the threat of China's economic expansion into the Middle East and seems to be doing a poor job of this task. The United States now has very serious problems with influence in the Middle East. Arabs do not like being deceived.
Could there be a new financial system not dependent on USD?
Yes, it is possible and there are discussions going on in many parts of the world about it to create a multi-currency system that is not solely dependent on pre-dominated US dollar-based system, and digital currencies such as Bitcoin is also an option. The major economic powers such as China and Russia are already using their national currencies to trade goods and services. However, completely moving away from US dollar poses significant challenges due to complexities involved and need for agreements among nations to establish and accept a new system.
Regarding the part of the dialogue about China and Russia - Russia for China is a raw materials appendage, and "a toy to intimidate the West." Game over...
"The United States does not support Taiwan independence and does not intend to enter into conflict with China
This was announced by US Secretary of State Anthony Blinken during a meeting with Chinese leader Xi Jinping in Beijing.
The PRC leader added that the United States should respect China's position and not harm the legitimate rights and interests of the country. Xi Jinping expressed hope that the United States will take a rational and pragmatic stance towards China."
This means that now the fate of Russia, if it is of interest, is only as a new territory of China or a raw material appendage with a short lifespan.
Regarding the "non-dollar international financial system" - now you can easily prove to yourself, without wanting it, that this is not interesting to anyone. Not China. Neither India. It is beneficial only as a populist slogan in the hands of those who have neither dollars, nor a normal economy, nor any weight in the world economy.
And so the question is - explain the real purpose, benefits, security and convenience of avoiding the dollar, as an inter-border settlement system? Just do not use "slogans", but a pragmatic, reasoned explanation?
Could there be a new financial system not dependent on USD?
Yes, it is possible and there are discussions going on in many parts of the world about it to create a multi-currency system that is not solely dependent on pre-dominated US dollar-based system, and digital currencies such as Bitcoin is also an option. The major economic powers such as China and Russia are already using their national currencies to trade goods and services. However, completely moving away from US dollar poses significant challenges due to complexities involved and need for agreements among nations to establish and accept a new system.
Gaddafi was simply killed for his "golden initiative" of the concept of the gold dinar as an alternative to the petrodollar. So the unfounded empty accusations of South Africa and the threat of sanctions are not yet too harsh a reaction from the United States.
We really need to stop pushing this narrative around. The US and NATO may have had ulterior motives for killing Gaddafi but let's not be out here painting him like a saint. Gaddafi was a ruthless dictator. In no world should a person like Gaddafi be celebrated. Just because he had a few ideas that would have been good for his people doesn't justify the things he did.
Based on the kind of person Gaddafi was, I really doubt that he wanted the "golden initiative" for the good of his people and not for his own personal interest. They all have ulterior motives.
Gaddafi had many sins, but the worst of them, for which he paid with his life, was that he challenged the dollar by proposing the creation of a single African currency backed by gold. Saddam Hussein also had many sins, but the worst of them, for which he paid with his life, was that he challenged the dollar, saying that Iraq would sell oil for the euro. Iran started billing oil in euros in 2003, and Hugo Chavez planned to do so in 2005, and Iran and Venezuela also had some shit.
After the collapse of the Bretton Woods system in the early 1970s, the dollar's post-World War II hegemony began to shake. But fortunately for the United States, Henry Kissinger, during negotiations with Saudi Arabia, developed a simple and ingenious system of "dollar recycling" and in 1975 all OPEC member countries began to sell oil only for the American dollar. And not just sell for dollars, but store them in American banks and buy US Treasury bonds. And the IMF used those dollars to lend money to oil-exporting countries. Bingo! Thanks to this, the reins of government of the world were again in the hands of the United States. And any country that challenges the "dollar recycling" system gets some shit in the form of US troops, sanctions, or a coup d'état. Not because the USA is so bad or evil, it's just that the USA is a very systemic country and this system protects its status quo by all available means, reacting to any threats to its dominant position in the world. Blackmail, bribery, murder - when I say "all available" it means really all available, the system has no moral restrictions inherent in man.
A financial system independent of the dollar is possible - but you have to be prepared to get your share of some shit when you try to implement it.
It's time to change the manual
It is already worn out, some pages are falling out, others are stained with greasy and dirty hands of fans of this delusional reading, and it smells strongly of mothballs About Gaddafi - a fairy tale, it was proved a long time ago
The only thing he did was support terrorism and beautiful sincere speeches, standing on the mountains of the corpses of the people he killed. The results, or rather the last hours of his life, by the way, perfectly showed "the nationwide love of the people for Gaddafi."the rest are the same fairy tales.
Oil is sold for dollars to all who find it profitable and convenient. The same Russia, only thanks to dollars for oil, was able to create the appearance of greatness. Now Russia is selling oil for yuan and rupees - and what, did it help Russia? The price of oil is "on the floor", yuan and rupees are in the banks of China and India, which forbid Russia to change them into dollars. Iran and Russia are switching to barter settlements, because there are no dollars, and the money of these two countries is just beautiful pieces of paper
And the rest, including China, India and others, continue to trade comfortably and conveniently on the international market for dollars!
PS A global financial system is also possible on cowrie shells. The only question is why?
Gaddafi was simply killed for his "golden initiative" of the concept of the gold dinar as an alternative to the petrodollar. So the unfounded empty accusations of South Africa and the threat of sanctions are not yet too harsh a reaction from the United States.
We really need to stop pushing this narrative around. The US and NATO may have had ulterior motives for killing Gaddafi but let's not be out here painting him like a saint. Gaddafi was a ruthless dictator. In no world should a person like Gaddafi be celebrated. Just because he had a few ideas that would have been good for his people doesn't justify the things he did.
Based on the kind of person Gaddafi was, I really doubt that he wanted the "golden initiative" for the good of his people and not for his own personal interest. They all have ulterior motives.
Gaddafi had many sins, but the worst of them, for which he paid with his life, was that he challenged the dollar by proposing the creation of a single African currency backed by gold. Saddam Hussein also had many sins, but the worst of them, for which he paid with his life, was that he challenged the dollar, saying that Iraq would sell oil for the euro. Iran started billing oil in euros in 2003, and Hugo Chavez planned to do so in 2005, and Iran and Venezuela also had some shit.
After the collapse of the Bretton Woods system in the early 1970s, the dollar's post-World War II hegemony began to shake. But fortunately for the United States, Henry Kissinger, during negotiations with Saudi Arabia, developed a simple and ingenious system of "dollar recycling" and in 1975 all OPEC member countries began to sell oil only for the American dollar. And not just sell for dollars, but store them in American banks and buy US Treasury bonds. And the IMF used those dollars to lend money to oil-exporting countries. Bingo! Thanks to this, the reins of government of the world were again in the hands of the United States. And any country that challenges the "dollar recycling" system gets some shit in the form of US troops, sanctions, or a coup d'état. Not because the USA is so bad or evil, it's just that the USA is a very systemic country and this system protects its status quo by all available means, reacting to any threats to its dominant position in the world. Blackmail, bribery, murder - when I say "all available" it means really all available, the system has no moral restrictions inherent in man.
A financial system independent of the dollar is possible - but you have to be prepared to get your share of some shit when you try to implement it.
Could there be a new financial system not dependent on USD?
Yes, it is possible and there are discussions going on in many parts of the world about it to create a multi-currency system that is not solely dependent on pre-dominated US dollar-based system, and digital currencies such as Bitcoin is also an option. The major economic powers such as China and Russia are already using their national currencies to trade goods and services. However, completely moving away from US dollar poses significant challenges due to complexities involved and need for agreements among nations to establish and accept a new system.
I am not sure about USD but I am looking for one that is not depending on fiat at all, that would be the best version. I get it, communism didn't work, and when anyone even mentions helping out the poor and the disadvantaged, its labeled left and terrible and communist propaganda and all that, that's what you westerners think. However, maybe its time to build a system where its a bit more fair? How? Well first up, maybe we should take the power out of central banks because they help rich get richer while causing poor to become poorer,
I don't see how taking the power out of the central bank will make things fair (not like it's even possible). The rich will still have Bitcoin the way they have money. Nothing will change. The rich will still keep getting richer. That way they will even find ways to manipulate Bitcoin to suit them.
The world wasn't designed to be fair. However we try to spin it, the world will still be unfair.
Gaddafi was simply killed for his "golden initiative" of the concept of the gold dinar as an alternative to the petrodollar. So the unfounded empty accusations of South Africa and the threat of sanctions are not yet too harsh a reaction from the United States.
We really need to stop pushing this narrative around. The US and NATO may have had ulterior motives for killing Gaddafi but let's not be out here painting him like a saint. Gaddafi was a ruthless dictator. In no world should a person like Gaddafi be celebrated. Just because he had a few ideas that would have been good for his people doesn't justify the things he did.
Based on the kind of person Gaddafi was, I really doubt that he wanted the "golden initiative" for the good of his people and not for his own personal interest. They all have ulterior motives.
Well, the US are doing all they can to tarnish the reputation of the South African government... even fabricating stories that a Russian ship is being used to ship weapons and ammunition to Russia from South Africa. (without any proof) 
We saw the same thing when the European nations wanted to join together to create the Euro. Everyone was fighting over that and people were skeptical from the start... now the Euro is one of the strongest currencies.
The difference is... the Euro was created by first world countries and it was done by people from the "West"..... now people from third world countries wants their own reserve currency...and suddenly people from the West is criticizing it from all side.
Gaddafi was simply killed for his "golden initiative" of the concept of the gold dinar as an alternative to the petrodollar. So the unfounded empty accusations of South Africa and the threat of sanctions are not yet too harsh a reaction from the United States. We saw the same thing when the European nations wanted to join together to create the Euro. Everyone was fighting over that and people were skeptical from the start... now the Euro is one of the strongest currencies.
The difference is... the Euro was created by first world countries and it was done by people from the "West"..... now people from third world countries wants their own reserve currency...and suddenly people from the West is criticizing it from all side.
Well, the US are doing all they can to tarnish the reputation of the South African government... even fabricating stories that a Russian ship is being used to ship weapons and ammunition to Russia from South Africa. (without any proof)
We saw the same thing when the European nations wanted to join together to create the Euro. Everyone was fighting over that and people were skeptical from the start... now the Euro is one of the strongest currencies.
The difference is... the Euro was created by first world countries and it was done by people from the "West"..... now people from third world countries wants their own reserve currency...and suddenly people from the West is criticizing it from all side.
We saw the same thing when the European nations wanted to join together to create the Euro. Everyone was fighting over that and people were skeptical from the start... now the Euro is one of the strongest currencies.
The difference is... the Euro was created by first world countries and it was done by people from the "West"..... now people from third world countries wants their own reserve currency...and suddenly people from the West is criticizing it from all side.
I am not sure about USD but I am looking for one that is not depending on fiat at all, that would be the best version.
We have to get back to the old days where the system of transaction is through barter. That's much better because the value of what you're going to trade or sell depends on the people and there's no standard that's being followed there, it's not organized.While if we go on these times, we've got a system and the money is backed by gold reserve. Whether it's the CNY or the USD, we'll still be reliant on their markets and value and that's why there is no escape from it.
Also, even if it's Bitcoin, its value is also convertible to USD or any other fiat so that's why it will still depend on the people setting value of goods.
The local currency that we use except from USD are also independent. Barter is old school but it looks kinda cool too. Lots of us might want to experience it. In some buying and selling groups that I see in Facebook. They have a barter like system where your gadget for example can be traded to the another gadget. Sometimes you are require to add cash if that gadget you are trading has a better specs than yours.
Of course this will not be impossible to happen, and this will require the approval of countries involved with the USD, such as China they are designing a new currency that will kill the USD and they certainly have very big goals in this matter, and countries like China do want to dominate the world and do not want dependence on the US country, So it will be a big problem if the new currency system is going to work, and it will have to have the approval of the community.
The only currency in the world today is the US dollar. Hegemony was established at the Bretton Woods conference. In order to get rid of the hegemony and influence of the dollar, the first choice should be to consume the domestic products of the countries and to trade between them in national currency. But it would be absurd to think that the Dollar's dominance would disappear immediately after doing so. The globalization scam of multinational corporations is actually colonizing countries.
Especially energy exporting countries should be more sensitive in this regard. Saudi Arabia and Russia are required to trade gas and oil in their national currencies in world trade. If they succeed in this in the first place the dollar hegemony that has been going on for years in world trade will be hit. With the integration of cryptocurrencies into our lives we can finish the functionality of the dollar. For example if Saudi Arabia traded with its own coin in oil trade, wouldn't the dominance of the dollar decrease? The most important thing is that a heavy price will be paid for doing so. If we are ready to pay the price, we must begin.
Yes it is possible for a new financial system to emerge that is not dependent on the USD. There are already efforts underway to create alternative currencies and payment systems that are not tied to any particular national currency. One example of this is the rise of crypto currencies such as Bitcoin, which operate independently of any any government or central bank. While they are still relatively new and untested, crypto currencies have the potential to offer a more decentralized and secure financial system that is not subject to the whims of any particular government or institution. While USD currently dominates the global financial system, there are many potential alternatives that could merge in the coming years.
Do you really think that governments around the world will allow a cryptocurrency like Bitcoin which is totally decentralized to take over the economy and become the main financial system? That will mean that they will have no access at all to their people's finances and financial activities, and everyone will be free to do whatever they want whenever they want with their money without having to prove anything to anyone.They will never accept that, they won't let Bitcoin be the next financial system to replace fiat, banks will be out of business, politicians who are superior right now and ruling over everyone won't have this much power and governments and authorities won't have any access to everyone's privacy.
The BRICS countries have huge growth potential, while the G7 countries have almost completely exhausted their growth potential. But closer to the topic, the era of dollar dominance can be characterized by the phrase "it was forever until it ended."
G7 countries haven't exhausted their growth potential and to be honest, word limit doesn't exist in this world! In G7 countries, you have Canada which is the second largest country in the world with over 80% of its uninhabited land, over 40% of land of the United States is uninhabited too. The modern world that we have, throughout the history, was created by Greece, Italy, France, Germany and England. And recently, in modern history, the United States of America and G7 countries have made our world more developed and progressive. BRICS countries are not on their level. Yes, their GDP may takeover G7 GDPs (that will be calculated in USD again 
) but that means nothing. Higher GDP doesn't automatically mean that individual person's standard of living will improve. The American Dollar is not that easy to remove and I bet America doesn't spend tons of money on NATO, they won't let it happen. While I personally prefer Dedollarisation, I think that's not gonna end well for all of us.
A new payment method for your business are very useful for Asian countries and also new coin value is highest and living people do the business and did the register of the new coin and the coin value will be directly impact and more then the dollar value and other coins and do the settlement of the business documents and damage the usage and some based on dollar did the will be abandoned .
The BRICS countries have huge growth potential, while the G7 countries have almost completely exhausted their growth potential. But closer to the topic, the era of dollar dominance can be characterized by the phrase "it was forever until it ended."
G7 countries haven't exhausted their growth potential and to be honest, word limit doesn't exist in this world! In G7 countries, you have Canada which is the second largest country in the world with over 80% of its uninhabited land, over 40% of land of the United States is uninhabited too. The modern world that we have, throughout the history, was created by Greece, Italy, France, Germany and England. And recently, in modern history, the United States of America and G7 countries have made our world more developed and progressive. BRICS countries are not on their level. Yes, their GDP may takeover G7 GDPs (that will be calculated in USD again ) but that means nothing. Higher GDP doesn't automatically mean that individual person's standard of living will improve. The American Dollar is not that easy to remove and I bet America doesn't spend tons of money on NATO, they won't let it happen. While I personally prefer Dedollarisation, I think that's not gonna end well for all of us.
Interesting and important query and everyone can relate to it. In my view, we really don't need to change the whole system and it's not even possible at least for now, we need to debug our system and make some improvements. The prominent mistake in this system which is done by us was Dollarization considering USD as a Universal currency. I think Internation trade should be based on Gold or any other asset you can take my indication towards as BTC if somebody doesn't agree then the solution is Gold or finding a new way.
We are already getting some glimpses that now USD will not be used as a trading asset, Saudi Arabia, Russia, and some other resourceful countries are heading up to trade locally or product to product. If someone is interested to read some good stuff related to theories proposed as a solution a few keywords which I knew are;
⚫ De-dollarization.
⚫ Bitcoin Era.
⚫ Gold Era.
⚫ Batter System Revival.
De-dollarization is what I encounter most of the time when reading about global economic news. In fact, there are already several countries outside BRICS members that have also carried out international trade by no longer using Dollars. but the country prefers to use the Chinese Yuan. Even some of the ASEAN countries have also chosen to carry out transactions between countries using their respective local currencies. Gradually Dedollarization will probably become a reality. even if it takes a long time.We are already getting some glimpses that now USD will not be used as a trading asset, Saudi Arabia, Russia, and some other resourceful countries are heading up to trade locally or product to product. If someone is interested to read some good stuff related to theories proposed as a solution a few keywords which I knew are;
⚫ De-dollarization.
⚫ Bitcoin Era.
⚫ Gold Era.
⚫ Batter System Revival.
In the past, international trade may have used gold and silver as world currency, but that was an old era. And it is possible that we will meet again in this era in the future.
My prediction is that there will be an eventual division of currency into the eastern and western sectors, with the bridge being cryptocurrency (whether this be a CBDC or Bitcoin/something government sponsored that is similar). BRICS will cater for most of the eat, while UM (universal money) will cater for the west, and probably Europe too. They will attain instant liquidity, incorporate social credits to heavily enforce existing/new law on people, and replace the U.S dollars reign over the globe. I don't think it will ultimately be for the better, but rather the beginning of the imminent end for fiat money. Supply will exponentially grow the moment that these currencies are 100% digital and cash is no longer a factor. I doubt that either of these currencies will have notes/bills.
The idea is interesting... BUT the problem is that it is based on the erroneous assumption that "BRICS will serve most of the food." the problem is that India and china are the biggest CONSUMER. Plus - let's not forget agro-technology (from equipment to seed and fertilizer) - globally the western countries are the leaders in this sector. The prospects of russia, as one of the largest suppliers of grain, are also vague - the situation has now changed and is not developing in favor of russia and its future with a positive outlook. There are many reasons - global degradation of the economy, degradation of the population, technological backwardness, and global sanctions and subsequent reparations are not excluded...
Brazil is a major agricultural producer on the world market, but not unique. The other BRICS countries do not have global influence on the food market.
Okay, once again, I'll give you a lesson
1. Forget that "largest territory", "largest population", "largest crown", "largest cannon" are anything important, these are all old, primitive, medieval signs of "greatness"!
2. China is an export-oriented, technologically dependent country, with uncontrolled population growth, and an attempt to pass itself off as the center of the world
Which now has problems that they are trying to solve by smearing their problems on less intelligent "friends" by replacing the dollar in their stocks and settlements with the yuan. 3. In terms of food - they can only CUSTOMIZE, but not PRODUCE agricultural products for export. Although... plastic milk, or rather concentrates, supposedly food products they produce. Very well in third world countries and very backward - you can check on the "dairy products" in russia. If "as if you do not know" - google "cottage cheese burning" and "milk powder from China"
4. There is a migration of industries from China to India right now - high-tech companies are "moving in" and moving their production facilities. Yes, it's good potential, but it was created by Western companies and technology. By the way, this is a degradation of the economy for China.
5. Conservative consumption is quite logical, because in the West, the capacity of people (many times greater than the population of countries like China and India) has led to a really inadequate consumption of goods that are not needed. It all ends up either going into the trash or being stored somewhere in the pantry. High consumption capacity is not synonymous with "have to buy everything.
6. The fact that in the "biggest countries" The fact that 3 billions often consume only the bare necessities - once again proves that in today's world quantity always loses out to quality
And it proves that these countries are unable to provide an acceptable standard of living for their people, although "they have high potential" and blablablabla
Of course there are many financial and financial systems that are not dependent on USD, as we know that the influence of USD is very strong but now many countries want to leave USD and use other currencies, even China is increasingly aggressive to use Yuan and proven effective.
I am not sure about USD but I am looking for one that is not depending on fiat at all, that would be the best version.
We have to get back to the old days where the system of transaction is through barter. That's much better because the value of what you're going to trade or sell depends on the people and there's no standard that's being followed there, it's not organized.While if we go on these times, we've got a system and the money is backed by gold reserve. Whether it's the CNY or the USD, we'll still be reliant on their markets and value and that's why there is no escape from it.
Also, even if it's Bitcoin, its value is also convertible to USD or any other fiat so that's why it will still depend on the people setting value of goods.
It is going to take sometimes for the dominant currency that is the USD to be replaced by another currency that would reduce the muscles and crazy sanctioning of the United States on countries that do not support her agenda.
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