Big Take Asia
Could the Chinese Yuan Ever Replace the US Dollar?
Sep 24, 2024
Saleha Mohsin, a Bloomberg journalist with expertise in global economics, delves into the shifting dynamics of currency dominance, particularly the challenges facing the US dollar. She discusses the rising wave of de-dollarization fueled by sanctions, and how BRICS nations are pushing for alternatives. The conversation touches on the potential impact of tariffs proposed by Donald Trump and examines whether the Chinese Yuan can realistically dethrone the dollar, highlighting the importance of democratic values and transparency in this transition.
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Quick takeaways
- Former President Trump's concerns underscore a possible shift away from the U.S. dollar amid rising economic sanctions on Russia.
- While the yuan is viewed as a competitor, the dollar's global dominance persists due to U.S. economic strength and investor confidence.
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