The dollar is seen as the world's safe haven risk-free asset. But if they're trading in their own currency in a bunch of other countries' currencies, which apparently is what is happening here, they don't need to hold as many dollars. And there's maybe 10 or $15 trillion sloshing around out in the world and all of them won't come home.
Several countries have agreed to ditch the US dollar in their trade deals instead moving to establish the Chinese yuan as the dominant international currency. In this episode we talk with an expert about the effort to move away from the U.S. dollar as the world’s reserve currency and what it means to the US and world economies. Get the facts first on Morning Wire.
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