Topic: Russia and others, move to use Yuan instead of dollar. - page 11. (Read 1638 times)
Won't work, they can try as much as they want, but it won't work. Russia has natural resources, china has cheap but quality manufacturing, but neither have a constant big economy that can sustain itself without the west. On the other hand, west could use some other nation, Bangladesh, or Pakistan or whatever they want, they don't care, and in 10 years they can get manufacturing to that level, and for the natural resources we are going towards the renewable stuff very quickly, which could make it a lot better. After all, neither the world can take it, nor the oil can continue to be found everywhere forever, it will end one day. All in all, west will continue to rule unfortunately, not that I like west neither, but I rather have the evil of west compared to evil or Russia or China.
The use of the yuan instead of the dollar by Russia and other countries can have some impact on the US economy depending on the reactions of other countries and financial markets. For example when yuan reduces the demand for the dollar, it can lead to a depreciation of the US currency and can make imports more expensive for US consumers and businesses. It will also make US exports more competitive in markets that use yuan. Use of yuan can also increase trade and investment flows between China and other countries which can create new opportunities for US businesses that are able to compete in these markets. If the yuan becomes more widely used in international transactions, it can become a reserve currency alongside the dollar, which can help to diversify the global financial system and reduce the dominance of the US currency, something that is not favorable on the side of US dollar.
I think that the power yuan has as a currency for China and Russia is still relatively limited compared to the dollar, and any shift in this direction for other countries will take time and will not be easy.
I think that the power yuan has as a currency for China and Russia is still relatively limited compared to the dollar, and any shift in this direction for other countries will take time and will not be easy.
This is inevitable and I think the US had it coming because they poured so much pressure towards the Russia which gave them pretty much no other choice than to lean on their ally which is China. And now, China and Russia have come together to use Yuan especially in trades and exports of black gold (oil) from Saudi Arabia.
Recently, the Russian and Chinese leader namely president Xi JinPing and Vladimir Putin have met recently in Moscow to discuss about some future developments of China-Russia relations and other strategic cooperations. In-fact it was reported that they both signed various documents about the trade and currency which will make a heavy impact towards US economy.
The use of the yuan instead of the dollar by Russia and other countries can have some impact on the US economy depending on the reactions of other countries and financial markets. For example when yuan reduces the demand for the dollar, it can lead to a depreciation of the US currency and can make imports more expensive for US consumers and businesses. It will also make US exports more competitive in markets that use yuan. Use of yuan can also increase trade and investment flows between China and other countries which can create new opportunities for US businesses that are able to compete in these markets. If the yuan becomes more widely used in international transactions, it can become a reserve currency alongside the dollar, which can help to diversify the global financial system and reduce the dominance of the US currency, something that is not favorable on the side of US dollar.
I think that the power yuan has as a currency for China and Russia is still relatively limited compared to the dollar, and any shift in this direction for other countries will take time and will not be easy.
I think that the power yuan has as a currency for China and Russia is still relatively limited compared to the dollar, and any shift in this direction for other countries will take time and will not be easy.
There are also other reasons why Russia has tried to use the Chinese yuan instead of the dollar. Of particular importance here are the US sanctions imposed against Russia and the disconnection of almost all Russian banks from the SWIFT international payment system, which made it very difficult to use the dollar. In addition, Russia previously held a significant part of its foreign exchange reserves in yuan. But the Chinese yuan has fallen in price over the past year, and Russia has suffered significant losses because of this.
Experts believe that the popularity of the yuan in Russia is due to the adjustment of Russia's own policy and the constant development of Sino-Russian trade and economic cooperation. Yuan breaks trading records for
Moscow Exchange. However, the increasing role of the yuan only indicates that the currencies of unfriendly countries have been forced out or fled from Russia. Given that no one is talking about trading in rubles, it is the yuan that remains the means of payment, which allows you to somehow trade with the rest of the world, which has narrowed to China and India this year.
Experts believe that the popularity of the yuan in Russia is due to the adjustment of Russia's own policy and the constant development of Sino-Russian trade and economic cooperation. Yuan breaks trading records for
Moscow Exchange. However, the increasing role of the yuan only indicates that the currencies of unfriendly countries have been forced out or fled from Russia. Given that no one is talking about trading in rubles, it is the yuan that remains the means of payment, which allows you to somehow trade with the rest of the world, which has narrowed to China and India this year.
This is what could be referred to in international politics as power tussle in terms of international levels of analysis. Haven such two conflicting countries like China and Russia coming together based on mutual economic interest against a common rival the USA is one that could be very frustrating for the US dollar with the unambiguous leverage and advantage the likes of Russia, China, Iran and Saudi Arabia have come together to give to the Chinese Yuan. With Russia in the forefront bent on the use of the Chinese Yuan instead of the US dollar in their country and in all of it's transactions and trades settlements with Latin America, Africa and Asia countries.
https://www.wsj.com/articles/russia-turns-to-chinas-yuan-in-effort-to-ditch-the-dollar-a8111457
What does this new development make for the US economy and the US dollar in the coming days and years to come.
Give your personal opinion on this development!
https://www.wsj.com/articles/russia-turns-to-chinas-yuan-in-effort-to-ditch-the-dollar-a8111457
What does this new development make for the US economy and the US dollar in the coming days and years to come.
Give your personal opinion on this development!
Jump to: