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I don't think de-dollarization is particularly pushed by places like China. From the Chinese perspective, dollarization is a good thing because it means they ca

I don't think de-dollarization is particularly pushed by places like China. From the Chinese perspective, dollarization is a good thing because it means they can engage in intl trade without needing to open up their domestic currency and deal with the potential political instability that might result. I think it's more oft pushed by 'sound money' cranks (either gold bugs or their fellow travelers) or by particularly ornery fiscal conservatives with an axe to grind about whatever monetary policy the US is pursuing this week.

throwawaymaths 3y ago
De-dollarization is pushed by china. I think you're right, the dollar hegemony is in their interest, but every country does dumb as shit things (e.g. the US re-invaded Iraq) https://www.scmp.com/comment/opinion/article/3216363/after-decades-us-hegemony-global-shift-away-dollar-suddenly-picking-speed https://www.scmp.com/comment/opinion/article/3216363/after-d... Actual propaganda arm of the CPC: https://www.globaltimes.cn/content/1195115.shtml https://www.globaltimes.cn/content/1195115.shtml https://www.globaltimes.cn/page/202304/1289865.shtml https://www.globaltimes.cn/page/202304/1289865.shtml https://www.globaltimes.cn/page/202304/1289944.shtml https://www.globaltimes.cn/page/202304/1289944.shtml https://www.globaltimes.cn/page/202304/1288446.shtml https://www.globaltimes.cn/page/202304/1288446.shtml
KRAKRISMOTT 3y ago
De-dollarization for the Chinese is purely because of geopolitical and strategic reasons (rendering bank level SWIFT sanctions ineffective). Whether trade is done/settled in USD or yuan doesn't really affect them as they are an export economy with a peg to the USD. Switching to a currency swap system with specific countries doesn't mean the efficient market hypothesis stops holding. The underlying value of the swaps can still contain a USD peg.

throwawaymaths 3y ago

De-dollarization is pushed by china. I think you're right, the dollar hegemony is in their interest, but every country does dumb as shit things (e.g. the US re-invaded Iraq) https://www.scmp.com/comment/opinion/article/3216363/after-decades-us-hegemony-global-shift-away-dollar-suddenly-picking-speed https://www.scmp.com/comment/opinion/article/3216363/after-d... Actual propaganda arm of the CPC: https://www.globaltimes.cn/content/1195115.shtml https://www.globaltimes.cn/content/1195115.shtml https://www.globaltimes.cn/page/202304/1289865.shtml https://www.globaltimes.cn/page/202304/1289865.shtml https://www.globaltimes.cn/page/202304/1289944.shtml https://www.globaltimes.cn/page/202304/1289944.shtml https://www.globaltimes.cn/page/202304/1288446.shtml https://www.globaltimes.cn/page/202304/1288446.shtml

KRAKRISMOTT 3y ago

De-dollarization for the Chinese is purely because of geopolitical and strategic reasons (rendering bank level SWIFT sanctions ineffective). Whether trade is done/settled in USD or yuan doesn't really affect them as they are an export economy with a peg to the USD. Switching to a currency swap system with specific countries doesn't mean the efficient market hypothesis stops holding. The underlying value of the swaps can still contain a USD peg.