Listen up !!!!!!!i am not sure about any other person living in good old USA .....but letting a shitty piece of worthless currency .....rule ...we do not its value .....they print of like leaflets ......how can we trust a servile nation to get money .....these guys are more dishonest than a used car salesman ......or a fisherman.......or a used car salesman........who fishes a a lot .....they print the yen and lend that out willy nilly ........to poor countries .....the dollar bill is a steadfast of currency for all illegal activities .......what are you fucking nuts!!!...........!its that bastard joe biden......... sucking chinese dick ....i tell you ...we need a real patriot to run shit!!!!! ..... not a doddering old fuck ....who is half conscious ......i mean FFS...... who the fuck voted this old fucker in ......you need a good kick in the vag..... or dick ......or both........as we do not know what half of you biden fuckers are .......you all wannabe pansexual/bi sexual/omnisexual/globosexual/.....who the fuck knows what the fuck you want to be ....i am so glad oi never had kids ....i would have sold them for shark bait ....or to the chinese whom....... i hate for their sweat shops .......just becasue .....i could ..... .......if you got a dick ........a dude .....a a vag/birth canal /stench trench/booyah/pussy ......chick .....simple........ simple dolly simple ........however i am straying again........fuck !!!!!!!......however the yuan ....like the euro ......piece of shit currency ......dollar bill always favoured by drug barons ....money launderers and banks .....and criminal enterprises like the american govt and banks .......see where i am going ....its one size ....fuck that colourful shite papaer ......it gets confusing .......kep it fucking simple ..........
Could China’s Yuan replace the U.S. dollar as the world’s dominant currency? Here’s how the Asian nation's trade supremacy is quickly boosting its reserve status
China’s economy has been immensely successful by most measures. Its gross domestic product (GDP) of $17.7 trillion is second only to the United States. It’s also the third-largest trading nation in the world — behind only the U.S. and E.U.
However, China’s currency — the renminbi — only accounts for 3% of global trade. Compare that to the 87% market share of the U.S. dollar. Despite its economic and political power, the country doesn’t dominate the global flow of fiat currency. Now, it’s looking to change that.
Here is China’s multitrillion, multidecade plan to replace the U.S. dollar as the world’s reserve currency.
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How do currencies achieve reserve status?
Achieving reserve currency status isn’t a formal process. Instead, it’s like winning a popularity contest.
The most popular currency for global trade and cross-border commerce emerges as the de facto reserve currency. The “popularity” of a currency is simply based on the perception of security and resilience of the issuing country. This is the asset or currency that most central banks across the world prefer to hold in reserve, which is why the dominant asset earns the label of “reserve currency.”
Since 1450, there have been six major reserve currency periods. Portugal dominated the global reserves until 1530 when Spain became stronger. Currencies issued by the Netherlands and France dominated world trade for much of the 17th and 18th centuries. But the emergence of the British empire made the Pound Sterling the reserve currency until the end of the First World War.
The U.S. dollar displaced the pound just as America gained economic superiority over Britain. More than 75% of global transactions have been completed in U.S. dollars since 2008. The dollar also accounts for more than 60% of foreign debt issuance and 59% of global central bank reserves.
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