The Yuan will never become the international currency

submitted by jet199 from vm.tiktok.com

sorted by:
top
newinsightfulfun
you are viewing a single comment's thread.

view the rest of the comments →

[–]Alphix 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (1 child)

That makes a lot of sense actually. Also, I heard yuan time that the Chinese are creating a gold-backed currency just for international trade. That seems to be a direct consequnce of what's expressed in this video.

[–]pattis 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

Yes, that's correct. China has been working towards establishing the yuan as a more prominent international currency and has been taking steps towards creating a gold-backed currency for international trade. This move is seen as a pushback against the dominance of the US dollar in international trade and could potentially increase China's economic influence globally. The points made in the video suggest that China's approach to building its economic power and challenging the US-led world order is through alternative means such as the establishment of the Asian Infrastructure Investment Bank, the Belt and Road Initiative, and its investment in developing countries in Africa and Asia.