The U.S. Can’t Afford To Lose Its Reserve Currency Status

Watch this space. The U.S. Can’t Afford To Lose Its Reserve Currency Status The loss of its exorbitant privilege would be disastrous https://medium.com/alpha-beta-blog/the-u-s-cant-afford-to-lose-its-reserve-currency-status-b08009c2cbf2

Sam Mendoza

Much of this is the Russia effect. Following the outbreak of the Ukraine war and Western sanctions, Russia has replaced Saudi Arabia as China's top oil supplier and become a key market for Chinese autos. And China and Russia now conduct the lion's share of their bilateral trade in yuan.

Renminbi rising: China's yuan is quietly gaining ground 

https://www.wsj.com/finance/currencies/chinas-yuan-is-quietly-gaining-ground-f0b8994b

"China's cross-border yuan settlement for merchandise trade has more than doubled, on a monthly basis, since mid-2020 — and is now equal in value to over a quarter of China's top-line goods trade."

Renminbi rising: China's yuan is quietly gaining ground   https://www.wsj.com/finance/currencies/chinas-yuan-is-quietly-gaining-ground-f0b8994b  "China's cross-border yuan settlement for merchandise trade has more than doubled, on a monthly basis, since mid-2020 — and is now equal in value to over a quarter of China's top-line goods trade."

The Chinese currency’s use abroad has risen sharply. That could complicate the impact of any future Western sanctions.

China’s Yuan Is Quietly Gaining Ground

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The US Dollar is facing the greatest challenge to its reserve currency status in history. To explain, governments, financial institutions, and companies in several countries are trying to make the Chinese Yuan or Renminbi an alternative reserve currency.

https://medium.datadriveninvestor.com/can-the-yuan-replace-the-us-dollar-as-the-global-reserve-currency-d1b40413585b

The US Dollar is facing the greatest challenge to its reserve currency status in history. To explain, governments, financial institutions, and companies in several countries are trying to make the Chinese Yuan or Renminbi an alternative reserve currency.  https://medium.datadriveninvestor.com/can-the-yuan-replace-the-us-dollar-as-the-global-reserve-currency-d1b40413585b

The US Dollar is facing the greatest challenge to its reserve currency status in history. To explain, governments, financial institutions…

Sam Mendoza

A group of likeminded people in The Most Important Thing are talking about this.