China's Strategy to Weaken the US Dollar | Wealthy

China's Strategy to Weaken the US Dollar | Wealthy
In this video, we talk about petroyuan, which is in the news for its gradual attempts to weaken the US dollar. Known as 'de-dollarization,' experts have debated the feasibility of this shift for years. However, China has been making significant efforts to challenge the dominance of the US dollar, particularly in the trade of crude oil. This has garnered support from countries like Russia, Iran, Indonesia, and Venezuela, posing a threat to the greenback's supremacy. China has also pitched the renminbi as a settlement currency to Gulf Cooperation countries, including Saudi Arabia. By signing investment pacts and offering joint exploration projects, China aims to entice countries to trade in its currency. This video discusses the geopolitical aspect of China's gradual steps to take over the US dollar. But will it be that easy? Watch the video to know more.
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