For decades, the U.S. dollar has dominated global trade and finance. But China has a different vision. By expanding the use of the yuan in international trade, Beijing is working to elevate its currency on the world stage. In this episode of Dominomics, we examine how close the yuan is to challenging the dollar—and what it would mean for the global economy.
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Who says the yuan is undervalued?
ah i see analysts from the dollar system, which curiously also propose the EUR to be disbanded…
Sorry DW guys, that was a very superficial analysis
Who cares yuan win or not. If one wants to buy things from China and China asks for Yuan, why The West gets bothered and upset? That is pathetic.
Imagine this: if the Chinese exporters one day only accept payment in Chinese Yuan, then what?
Yup. If Beijing made the yuan convertible that might help. But they won’t do that because everyone would buy dollars! It’s the most absurd situation that China marches to a nationalist drumbeat and constantly assures/ insists that China is big and powerful. But really it seems a bit doubtful somehow. You see, if everyone in China swapped their RMB for dollars then China would become an economic midget overnight. So that’s something that Beijing won’t countenance.
Let’s go! More options in global reserve currencies. The more protected developing countries will be in securing their own future. More choice is more freedom.
China doesn’t want to repeat the mistakes of other empires.. as others have said..
As long as the Yuan is NOT a market currency; as long as the Yuan is actually two currencies: International Yuan and internal Renminbi and as long as China does NOT allow the free flow of currency across it’s borders the Yuan will NEVER be a International Reserve currency. IMO as long as Xi Jinping is dictator of China these changes will NEVER happen. If the Yuan was a market currency, was one currency and the free flow of capital in & out of China was allowed the Yuan would be an International Reserve currency. Xi Jinping is AFRAID that making these changes would make it more likely that the CCP would lose power in China.
Lol Chinese never wanted the status. They don’t want that responsibility.