Political circles in Beijing monitor signs of the decline and decline of US influence in the international arena, in parallel with indications of the dollar’s loss of its status as a global currency in the economic arena.. Chinese analysts said: The dominance of the US dollar has begun to collapse.
The Chinese newspaper Global Times reported that Brazil and China recently reached an agreement to trade in their currencies and abandoned the US dollar as a mediator, and that India, which US politicians consider as their partner, has begun to deal coldly with the US dollar. New Delhi has spoken of plans to use the rupee in trade deals with Malaysia.. Not far behind is China, which completed its first purchase of LNG from France’s Total Energies (from the UAE) in Chinese yuan.
- Many experts predict that the idea of abandoning the dollar will continue to attract other supporters.
The dominance of the dollar will gradually collapse
And the Russian financial expert, Director of the Wuhan Institute of Finance, Dong Dingin, believes that the abandonment of the dollar at the global level is gaining momentum. Over the past two decades, the United States has consistently misused the dollar as the international reserve currency, hurting other currencies and economies.
- And depending on the world’s trend towards multipolarity, and the decline of the United States from being the largest trading economy in the world, the dominance of the dollar will gradually collapse, and this is an inevitable trend.
Russia lowered the level of confidence in the US currency
The Ukraine conflict, as well as a number of other geopolitical upheavals, has forced many countries to reconsider their stance on the United States. But most of all, Russia has lowered the level of confidence in the American currency.
- It was Russia that sparked the dollar dumping storm. After the United States imposed financial sanctions on it. Everyone saw that it was not safe to keep savings in dollars.