Will the Chinese Yuan supersede the US Dollar in the future?

TheGr33k

hero member

Activity: 518

Merit: 500

Quote from: LottoBooking on June 08, 2015, 03:21:37 AM

Is China's currency going to become the world reserve currency within a few years? Shocked

I don't know much about international economics, but from what I've been hearing with all their investment into future technologies that have been taking off recently they are certainly setting themselves up to be in a position that's of great advantage. Their Yuan may supersede USD within 10-years.

Nasus

full member

Activity: 168

Merit: 100

Quote from: LottoBooking on June 08, 2015, 03:21:37 AM

Is China's currency going to become the world reserve currency within a few years? Shocked

I dont think so dollar is a pretty strong currency and a most part of the world US dollar to be converted in their own local currency.

pitham1

legendary

Activity: 1232

Merit: 1000

Quote from: fuddudle on October 06, 2015, 10:39:40 PM

I highly doubt it. There economy fundamentally requires their yuan to be weak as they largely depend on exports

Their economy is right now dependent on low cost manufacturing, geared towards exports. This should change once the labour force becomes more skilled. China is already facing competition from South East Asian nations.
When this shift occurs, China will no longer feel the need to keep the Yuan weak.

StevenLiang

full member

Activity: 168

Merit: 100

Quote from: LottoBooking on June 08, 2015, 03:21:37 AM

Is China's currency going to become the world reserve currency within a few years? Shocked

I will give simple answer for your simple question.

If it's for 10-20 years onwards, maybe yes.
But if it's for 1-5 years in future, USD will keep lead.

Quinn

full member

Activity: 168

Merit: 100

Quote from: LottoBooking on June 08, 2015, 03:21:37 AM

Is China's currency going to become the world reserve currency within a few years? Shocked

It might happen but not in the near future. China has done great for a quite a number of years now, so it might happen.

fuddudle

full member

Activity: 150

Merit: 100

I highly doubt it. There economy fundamentally requires their yuan to be weak as they largely depend on exports

Snorek

legendary

Activity: 1400

Merit: 1001

Quote from: bryant.coleman on June 08, 2015, 11:33:22 AM

Many of the superpowers are fed up with the American manipulation of the USD, and are taking steps to free themselves from the dollar bondage. For example, Russia recently decided to dump its American treasury bond holdings and took steps to conduct the Sino-Russian bilateral trade in CNY. A number of countries have entered in to currency swap agreements with China. All this points to a bright future for the CNY.

The thing is: every country is manipulating their own currency in one way or another. If you think Russia or China are different and don't do it you are fooling yourself. That is why I think national currency is a lie and should be destroyed by one and only worldwide currency - bitcoin.

Pab

legendary

Activity: 1862

Merit: 1012

Quote from: LottoBooking on June 08, 2015, 03:21:37 AM

Is China's currency going to become the world reserve currency within a few years? Shocked

If Chinise will like to has yuan like reserve currency,but yuan is moreand more importantand there is more and more trading in yuan,It is groing very fast.Already Yuan is fourth major currency of the world,overcome japanise yen
Chinse economy is growing,westerness economys are in stagnation.Westerness economys are dependend on stocks,chinise no

neochiny

hero member

Activity: 756

Merit: 503

Crypto.games

Quote from: LottoBooking on June 08, 2015, 03:21:37 AM

Is China's currency going to become the world reserve currency within a few years? Shocked

woahh.. this claim is really interesting.
well i think it can be possible. but if it happens it just means
that america is no longer that powerful when it comes.
and china will be powerful. hmm.. well in next 10 to 30 yrs.
lets see what will happen but for me i really doubt this one.

n2004al

legendary

Activity: 1134

Merit: 1000

Quote from: LottoBooking on June 08, 2015, 03:21:37 AM

Is China's currency going to become the world reserve currency within a few years? Shocked

There is not never only one reserve currency in an Central Bank or similar Authority as a reserve. There are two or three and naturally gold. Us dollar is almost in all of countries part of reserves because of the role of United States have and play in al the world, the power of its economy and the faith in its money. The other currency can be different by most of European countries has euro as the second currency except us dollar. As for the Chinese currency, I think that in the countries which have close connections (economical and political ones) with China it will be possible that part of reserves be in the Chinese currency. China now is a world powerful economic country. So it is natural that part of reserve money in that kind of countries be the yuan. They have to do to much with China and the Chinese yuan is fixed as a value. So (apparently) a strong currency.

But I don't think that it will be more important than us dollar. Nor today and nor in the future. United States have more influence in all the world and this kind of things are even a little political except economical. I don't think that China will surpass someday (in the political meaning) the power and the influence of United States of America.

LottoBooking

newbie

Activity: 56

Merit: 0

Quote from: bryant.coleman on June 13, 2015, 01:27:13 AM

The USA is the no.1 producer of crude right now, and they'll do anything to protect the USD.

The US was one of the big advocators and the one who pushed China to strengthen its currency all the way to its current levels.

bryant.coleman

legendary

Activity: 3766

Merit: 1217

If the Chinese Yuan becomes a major currency in the trade of crude oil and other petroleum products, then there is a chance that it can supersede the US Dollar. But I can't see that happening anytime soon, as the three biggest producers of crude are against any such step. The USA is the no.1 producer of crude right now, and they'll do anything to protect the USD. The Russians are the no.2, and they are more interested in doing the trade in RUR. The Saudis, who are in the no.3 position, are loyal and obedient vassals of the US.

Q7

sr. member

Activity: 448

Merit: 250

Well maybe yes but that's not going to mean that usd position will be affected in favor of yuan for that matter. The currency for the past years have been severely manipulated by the central bank to weaken it to give their economy a competitive edge in business and unless that changes together with their existing monetary policy, things are still going to stay the same. The chinese are also being very carefully not to prep their currency too much obviously to some other reasons, so we might not see that happening for now.

Clint

sr. member

Activity: 378

Merit: 250

I will tell you the Chinese Yuan is becoming a very high currency due to its fine and rapidly growing economy. Chinese stocks and other investments have put more value into the Yuan. But as you said, with in a few year, I really don't think so. At the end of the day, the Americans still control the great plot of the world economy, I think it can certainly pass the Canadian dollar though Wink

that's just my opinion.

bornil267645

sr. member

Activity: 406

Merit: 250

AltoCenter.com

I think China still have a long way to go, but if anybody in the current world economy can get there, it's China. Their total market revenue is increasing at stagring rate and if they keep this up, they might come face to face with USD in the near future.

bryant.coleman

legendary

Activity: 3766

Merit: 1217

Quote from: WhatTheGox on June 08, 2015, 03:39:43 PM

Its going to become the #1 currency for sure but perhaps the cultural differences between east and west will hold off china a little. If you look at the exchange rate from the last 10 years though the trend is pretty obvious

The exchange rates doesn't matter much, as there are claims that the CNY is heavily manipulated by the Chinese government. This is one of the main reasons why various countries are reluctant to add the Yuan to their Forex reserves. Still, it is commendable that the Yuan actually increased its net value against the USD, when all the other currencies (EUR, RUR, UKP, INR, CHF, CAD, AUD.etc) lost their value.

lissandra

sr. member

Activity: 434

Merit: 250

china always wants to become like the u.s eventually.

they been buying precious metals and other things back in 2012 i think.

techgeek

hero member

Activity: 826

Merit: 1000

In the future as a world reserve currency, maybe.

But, the dollar has been marketed to other nations for a long time, so its a bit harder for them to even look it as a reserve currency. But intially china does want to make that move.

LottoBooking

newbie

Activity: 56

Merit: 0

Quote from: AtheistAKASaneBrain on June 09, 2015, 07:21:11 AM

I don't sell the dollar being dethrone anytime soon. China has done great lately,but their bubble is one created out of pathetic wages, exploitation and low quality mass produced products, and this bubble will eventually burst. Nothing last forever on that state.

Is that the same bubble as the real estate bubble in New York & London?

qiwoman2

legendary

Activity: 2114

Merit: 1023

Oikos.cash | Decentralized Finance on Tron

China's Fiscal influence has already now spanned all continents so it is only a matter of time that China's monetary policies and currency will surpass the US DOLLAR. The U.S National debt is held by China so it only takes a snap of the Chinese Fingers to make the US DOLLAR tumble to oblivion.

Topic: Will the Chinese Yuan supersede the US Dollar in the future? (Read 1942 times)