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Russia and China to challenge dollar dominance with a new reserve currency
- cabirum 4y agoAbout time. In a system where it is possible for one county to freeze the assets of another, money have no meaning nor value.
- 88840-8855 4y agoFully agree, the time of US hegemony must break. We see it way too often how the US is acting wrong or evil and yet, nothing happens to it. I do not support the russian war in ukraine, but i wish them well to get through those irrational sanctions.
- hunglee2 4y agoinevitable and, in the end, not necessarily bad for the US that there may be other currencies other than USD to be available to facilitate trade. The contradiction of having one countries national currency as the de facto global reserve is the main reason why US consistently runs trade deficits with everyone else. The current system means that everyone else needs a trade surplus with the US in order to acquire USD, in order to do trade with someone else.