How far are we from the internationalization of Chinese yuan?

[@kelvinking4022]

USA froze Afghanistan central bank assets amid of the current state of the country, facing famine and hunger. We should have an alternative reserve currency to avoid one country weaponizing it's currency.

[@MMaheshThakur]

Pakistan was also blocking indian wheat which is sent as aid to Afghanistan. These are the same people who created taliban.

[@ramavijaya148]

Also unlike now , no body should be able to threaten to freeze the money of other countries. Poor Iran , venezuLa , now Russia eytc should not suffer with any power

[@za7v9ier]

Time and again, US has been increasingly weaponising their currency. Either go crypto or have an alternative currency such as the Yuan. China being the biggest manufacturer can be the alternative currency.

[@PhiloSurfer]

Russia invaded Ukraine - US froze Russian central bank assets US invaded Afghanistan - US froze Afghanistan central bank assets Am I missing something here?

[@yeusean]

Its actually piracy in broad daylight.

[@thaibhoomi5851]

Hats off for all Kind Chinese who worked hard, respect others and achieved it. The whole world will benefit from Stronger Yuan.

[@antoniokawarski6111]

As long as amerikkkan hedgemoney is eliminated, it'll be better for our world environment in every sense. No one benefits from fake democracy.

[@Brynkx]

You mean slave laborers?

[@jzm7543]

@@Brynkx You mean during centuries of British rule?

[@lilstan3692]

@@jzm7543 Well said.

[@Brynkx]

@Sandy Wong lol delusional. Uyghurs people disagree and north korean citizens would like some help. Chinese propoganda at it's finest.

[@kgapholasegadimanebethuel3873]

At the present moment I will be in support of any alternative currency in global trade other than the US Dollar, at least with the weaponization of The Greenback the victim nations can turn the other side...

[@sabijsoti8169]

I believe Monopoly money should replace dollars yen yuan euro every currency😂😂

[@Taoistimmortal]

Soon USD will be used as toilet papers. Current US inflation is about 8% and increasing.

[@sootuckchoong7077]

@@sabijsoti8169 US Dollar is going be a toilet paper.

[@RoySingh0611]

@Beast Mode Its futile, people just dont need the Inflation that comes with US$. You cant force people to buy you know 😊

[@cinpeace353]

@Beast Mode US can't go for a war by herself anymore. Several countries in Europe will definitely not going to a war for protecting US dollar. 😅

[@danysl2008]

China and its business partners across the globe should joint hand now accepting Yuan as trading currency in a Big Bang manner. This would have stability impacts. Everyone interest can be protected by joint guaranteed by central governments council.

[@magnacarta-us1zs]

Yearning for Yuan. Never before has the world desire reached a mammoth compromise. The time is NOW!

[@RoySingh0611]

@Beast Mode then so be it 😊👍

[@istheyear-ry1el]

@Beast Mode will you? you can kill saddam and ghadafi but to wage war against China, Russia and many more countries will not be the same

[@RoySingh0611]

@@laurielee4795 Many countries specially in Asia has started to keep some portion of their reserve in Yuan for Imports Payment from China. US$ is just too volatile and causes market problems. America can keep their Inflation to them self no need for other to Import American Inflation.. 😊

[@cedricwai7499]

Dethroned the dollar and no more sanctions or stealing other countries assets.

[@chubascomohd2688]

American dreams and green card is also a very way to rob the world 🌎

[@anonymousnobody153]

It sounds pretty unpatriotic to say but it's the right thing to do this country has enjoyed so much prosperity on the blood sweat and tears of other countries unfortunately we don't do our history research and find the root of wars and foreign conflicts they mostly all lead to some hidden agenda and that agenda many many many times has to do over maintaining the control of Petro production and exports and how these countries decide to do business

[@3lluminatiii]

LMAO. Oh, so you're concerned about sanctions... But not wars being made onto others? Your morality level is on display.

[@tatakhe3158]

@@anonymousnobody153 It is not un- American to have a conscience and a sense of fair play. Do not apologise.

[@anonymousnobody153]

@@tatakhe3158 u Kno now with the internet being so developed and so many documentaries here on KZbin that do a deep dive on all these topics making that type of statement is backed up compared to the 90s and everything before that where the public had to solely rely on whatever was spoonfed to us by the mainstream media now times are different and all the truth is coming out but even with that u would think governments would stop being corrupt and shady but they are even more blatant to the point where we know it's black we all see it's black they know it's black but they still say it's white.Just a huge F U to the public like we going to do what we are going to do regardless

[@dr.tariqkhan1666]

Must end dollar manaply, de dollearization, rise of east, rise of china and Asians countries, and new currency, love and respect from pakistan

[@uweSMG]

@Beast Modeeverybody who stands on chinas and russias side....knows that there will be a great world war with million...maybe billions of losses.....but these people would give their life to overcome US-imperialism.....me too

[@cinpeace353]

Rise of the global south.

[@munnashah1195]

@Beast Mode it's not worth to finish world on this issue that only effects usa

[@r.j.9683]

Stay away from USD! Before being hostage or rob

[@weimingw3056]

Yes Asian countries should void many of corruption on going and work together.

[@dilshab1075]

I am Sri Lankan. China also supports by RMB . So Sri Lanka buy import commodities through RMB

[@sumitbhattacharya4402]

What is RMB

[@Kumar-xu1gz]

Hey dude do u have money to eat food? ur country economy is collapsed 😅 strange u are supporting China !!!!

[@winkekatze5593]

@@sumitbhattacharya4402 RMB is a Shortcut for Renminbi the chinese currency.

[@LaowaiDaveJCP]

@@Kumar-xu1gzand what % of Sri Lankan total DEBT is Chinese? Jokes on You because your media fooled you big time lol

[@dilshab1075]

After 1977 Sri Lanka life style change and make into import consumption economy . So unfortunately we sale our female to gulf country to earn foreign money for import . Under the party democracy system nobody want to change this unhealthy practice because it affected to the bad election results. India import Russian crude oil at concession rate but Sri Lankan leadership wouldn't dare to do so . Because his child and grandchild live in USA and also renewable energy projects hold by electricity board engineers union because they have commission from private thermo power plants but our president not use his executive powers to force the commencement of such renewable projects. Our president fear western countries called him as dictator/ unconstitutional actor or human rights violator so he can't visit to see his grandchild in USA. There is conflict of interest , national interest or personal interest .

[@emiliocastro7455]

China should give priority in trade mainly to those countries willing to accept yuan as payment.

[@tientlam1589]

💐🤝👍💴💯💹🗽😉

[@theonly6359]

Yes 💴

[@Hmyt-yucca]

Hesitancy of China to push forward RMB and old fashion mentality that makes China remains a follower for foreseeable future, if China still exists ….

[@johnsmith-cw3wo]

@@Hmyt-yucca not so easy... a strong yuan actually make chinese products less competitive in price. (CCP actually keep yuan lower than real value artificially)

[@serpentlaw5961]

It is very easy for other countries to accept yuan in international exchange because the exchange rate is a lot lower that with the top-heavy US or Euro *because METAL-is-METAL and ore-is-ore.* The Euro is NOT to have any play in Asia because it is raiding lower currencies via raid-tourism as well especially because they buy EARTH and ore to make weapons and explosives. *They rush onto airplanes, travel to Africa, then BUY every piece of value they can get their hands on and send it back via Western courier services (Western piracy services).* And Western Union is not to be trusted because of money laundering concerns *in which they bribe local people into joining destabilization plots.* The entire internet and Euro-online trade cannot survive without lasting import of raw materials and plastics. *So, we need to find a way to halt also most of the food demanded by West and North, because we should not be feeding over-populations in the West and North while having a 2-child policy in China!*

[@wumao6797]

Saudi : I only trade oil in USD China : Ooookay..... ( Beep Beep Boop Boop ) Hello Russia, Iran, Venezuela want to trade in Yuan since the USD is like toilet paper to you with all those US sanctions. Russia : Sure Comrade Iran : Cool Venezuela : OK Saudi : OH FFS ok lets trade in yuan.

[@pixelmasque]

or...saudi: hmmmm I remember when the US supported israel in all the holy wars... time to get revenge.

[@Elisa-mg3rc]

or... Saudi: it's getting impossible to make sense of the brainless leaders of the "free world". Better get distance before they blow themselves

[@trekpac2]

I have to complement CGTN for bringing on so many excellent guests on its very various platforms. Talks are lways very well-prepared and professional. Thanks.

[@narinekutchukian4959]

US dollar is no longer backed by gold and economy is not strong. Since 1971 dollar was tied to carbon and oil trade . The nominal value of dollar is zero and ONLY it’s usage for oil gaz and oil trade it created dominance . Once countries stop using dollar as a trading currency, the ability to dominate and dictate their terms will very much weaken. It is unacceptable to sanction any State bank without a declaration of war with tat country. Only then the assets of a hostile bank can be seized. Under present circumstances everyone is subject to such pressure and volottile actions

[@rickoffee]

The US creates dollars to prop up its economy but they create too many, thus debasing its value. It is normal that China and middle-east countries for example want to protect themselves from the fallout of an inevitable shock caused by the fall of the dollar by moving away from it. There is no evil intent behind that. The US interprets that agressively.

[@kaiwalya3710]

Thats actually trues...that it's complete one sided dominance is not good... But as a indian...I don't want Chinese to grow either😂...lol

[@julieta203]

And also we can assume every statistic such as GDP, Inflation, Unemployment etc are all lies from the Empire of Lies.

[@azharidris7092]

OMG.. you are very polite.. ''the ability to dominate and dictate their terms will very much weaken'' you said.. no not weaken.. its will just sink to the bottom of the toilet bend like a piece of turd.. how bout that..

[@emmanuelballatan2066]

@@kaiwalya3710 world trading must used only one monetary..otherwise there will be hardship to insurance of payments.....dollar was the most reknown moetary currency,..international;y ..any changes could,make the world Scrumbles...

[@oldreddragon1579]

I think here in the UK we really don't understand the madness we have unleashed.

[@kuga7423]

UK is humiliating itself by being servant of the US

[@elon6784]

Yuan won't be a reseve currency in the near future. saudi might use yuan but most other countries won't follow saudi's lead. Most countries still rely on the us tech.

[@hussainashraf5179]

@@elon6784 whole usa is dependent on chinese made products

[@elenastone6011]

@@elon6784 ASEAN countries are already using their own currencies in trading with one another. SWIFT did not affect Russia as Russia has it own SPFS system which is operating for 10yrs in 40 countries. Russia is a member of Eurasia Economic Union. Russia also can use Chinese CIPS System.

[@ashk6762]

@@elon6784 when assets of a central bank of a country like Russia r frozen I doubt there’s a country that doesn’t sit back n rethink of changing its foreign reserves. Given the fact that today u can be Americas friend n tomorrow an enemy. Syria, Iraq n Iran were allies to the west at one point

[@rakaanggajananuragacokorda3147]

Indonesia has established Local Currency Settlement with China for bilateral trade starting this year. It is the fourth country (after Malaysia, Thailand, and Japan) with which Indonesia has established LCS. It's now a matter of increasing volume of trade that use the scheme; improving the system, providing more incentives for the businesses, etc. Indonesia is also urging other countries to follow the steps of establishing LCS for bilateral trade.

[@sarahkhan2310]

To start off Asia should trade without USD. About time Russia India China Iran Pakistan and the rest of Asia get together for peace economic progress excluding Singapur South Korea and Japan

[@cinpeace353]

Why excluding those several countries? Any countries should be welcome, including US allies.

[@thisiskevin1000]

Japan, Singapore and South Korea have long been trading and exchanging currencies with China. Also are major users of CIPS

[@Danie678]

Both of this guy above me do not understand that those countries are vassal state of the US, they have no independent over seeking any economical benefit that will detrimental to the US and western economy.

[@morningstararun6278]

@@thisiskevin1000 They have allowed US army completely in to them, turning themselves in to a vassal state. It is for their own good, that they should refrain from joining an Asiatic alliance.

[@noirekuroraigami2270]

@@Danie678 it’s cuz their economy is based off specialized goods. They have no real economy if they don’t have the west to sell it to. We Use these countries to stop the Chinese fleet from getting a foothold in The Pacific.

[@ahjotco906]

How many trillions are the US in deficit? Without guarantee by Gold, the US dollar is on shaky ground?

[@mmore7285]

no hugh country can peg the currency to GOLD.

[@evehawasinare228]

The dollar is backed by the paper it is printed on. Worthless. At some point the US will not be able to pay its debts and all countries that hold their reserves in dollars will lose their reserves.

[@lilacer6841]

@@evehawasinare228 they print money so it does not bother them

[@siamcharm7904]

@@lilacer6841 it causes run away inlation internally.

[@sueloh5035]

@@mmore7285 they did till the seventies

[@catonpillow]

The right question to ask is: 'How far are we from a worldwide dedollarisation'. And the answer is, not that far. With all the U$ trade vvars, sanctions, skyrocketing debt, out of control inflation etc. undermining the trust in the $ and considering that Сhina is already trading with a number of countries in national currencies, as well as starting to use the digital yuan, it should occur toward the end of this decade or at the start of the next

[@ashok.vardhan.g]

Might be even quicker. Give it perhaps 4-5 if the current tensions between US and Russia, China escalate.

[@basstrip73]

It will take longer than a decade. The US won't give up its dominance without a fight. When seeing how Trump and people like Pompeo and Bolton, and most of the Republicans in fact, talk and act towards countries like Iran and China this is very worrying. China will have to figure out a way to defang the US or outmanoeuvre it so that it doesn't use its military. This will not be an easy task. It's a mistake to assume the end of American hegemony will be smooth and quick.

[@matthewachilles6387]

@@Chna2019Viirruus so are you a white-supremacy imperialist?

[@anjanikumar.t1708]

Due to the inflation Pak people are thinking Pak PM did wrong with Rates of Commodities And its impacted Global humanity And its caused hurt to their neighbors How it is good.

[@sootuckchoong7077]

I bet within just one year from now, at least half the world will be trading with RMB/YUAN.

[@elqsabe1]

Hope soon Yuan come into dominance ! Get rid of dollars

[@JohnSmith-le5oe]

Barter system works. Germany did this with great success in the 1930s, after developing a financial system from which the banksters couldn't profit.

[@kangkengsoon926]

One tiny steps that will snowballed to the end of dollar hegemony

[@laichuonkui69]

Let's burn this earth out.

[@undeadpresident]

​@Beast Mode It's hard to know whether you are right or not. President Brandon seems hellbent on doing everything possible to destroy the USA. He was "elected" with the help of China, which paid about $400 million to Dominion's holding company Staple Street Capital via UBS Securities LLC just prior to the 2020 election. Dominion is the company providing the voting machines used across the USA, in case you forgot. Brandon & his son also have personally made millions through their corrupt dealings with China. It's quite possible and even likely that he would involve the USA in a war with China and execute it in such a manner as to bring more destruction and humiliation to the USA, stabbing it in the back and cloaking the treason in the appearance of incompetence. It is no secret that Brandon is aligned with the World Economic Forum, and the WEF's agenda involves the USA no longer being the world's leader. The Federal Reserve, being a willing participant in this plan, also will have no qualms about treasonously destroying it's own currency. The central banks are privately owned and part of a supranational cabal. Awhile back I even saw Fed Chair Jerome Powell on a conference call with the WEF basically saying he's on board with them but that it might take some time due to the democratic processes in the USA which make a hurdle for him.

[@enghockonn8028]

In this age of USA sanction ,bilateral trade should be done in currency bilaterally instead of USA currency to avoid inconvenience

[@yeusean]

US is shooting itself like crazy without realizing it is accelerating its own demise.

[@ioanD]

LONG LIVE THE GREAT CHINESE GLOBAL UNIVERSAL CURRENCY, finally we can leave forever the dirty dollar.

[@Brewer420]

keep dreaming

[@deepone5005]

Yeah! Support fm Singapore and Malaysia!

[@Brewer420]

@UCWB2BZPYGaVTtLMPOyMjD0w the west laughs at your pitful east

[@Cheesecake99YearsAgo]

@@Brewer420 dreams are coming into fruition

[@MrBreeze66]

We need to invade Taiwan to start with then world domination while we blame the west for everything evil we have done!

[@chinesememer]

Internationalization requires rmb to become free trading. 1. One of the biggest problem with petro dollar is American govt spend money, other countries pay part of the bill. Chinese govt has to abuse it a lot less, but the govt is bloated atm 2. The other problem is that petro dollar and swift was and still can be used often as an economical weapon, for rmb to be more attractive, a promise of not weaponizing currency goes a long way I wish CCP take one for humanity, and actually end the imperialist hegemony.

[@anjanikumar.t1708]

Good human CheguVera

[@durnel2001]

@Beast Mode your threats mean nothing, your time is over American

[@austenhead5303]

@Beast Mode Then we'll all die, including you. And I for one would prefer that, to global neo-feudalism, with no powerful sovereign nations left to oppose the Western neo-liberal tyrants. Russia and China and the global south MUST win this, and if they can't, then as far as I'm concerned, we might as well nuke the planet and end this BS. So threaten all you want, nothing the West could do is worse than what they've already done.

[@user-mhgu6om9mj2t]

@Beast Mode ok lil beasty. Keep trolling fool

[@JeanBaptisteCalo71]

@Beast Mode Sorry but you sound so foolish.

[@steventan2550]

Even many Americans are losing faith in their own currency. The unlimited printing of the dollars really sacred the hell out of them. There is not much the ordinary folks could do but the wealthy Americans have already executed their Plan B.

[@sueloh5035]

@Ben Benito n you get your knowledge from western media indoctrination

[@esp4yu]

OPEC Countries should also follow suit ... This way America cannot go around to instigate War (like in Ukraine, Afghanistan, Iraq), when the Value of USD becomes less in Demand

[@youarebeingliedto9218]

bye bye USD, hello crypto, metals, and a basket of nation currencies. Replacing USD with Yuan as the master-of-all currency is just switching a master for another master.

[@esp4yu]

I did not suggest switching USD for Yuan ... Perhaps there is a better way (maybe not possible); Countries with positive Debt to GDP, to be able to Trade using their own Currency. Why Debt to GDP? For Example in America case Debt to GDP is 137. With a Total Debt of more than 30 Trillion (See Debt Clock) - It would take hundreds of years to pay back, and if there is a change in Administration from Democrats to Republican or Vice-Versa, the whole world will be in Chaos. Hence Trading of Oil, Commodities cannot be in USD but in Currency where Debt to GDP is Positive ( until USA Debt to GDP becomes Positive again)

[@billyjean7169]

Yes

[@alantan9863]

In the past, I used to think the greatest obstacle to internationalization if RMB is lack of transparency in China. However, I forgot the fact that geopolitics matters. NATO countries use Euro, USD, JPY, GBP & other currencies collectively known as G10.

[@priyanksaikia5549]

I am desperately waiting for the Internationalisation of Yuan. Cannot contain my excitement to see a parallel system for Global Trade and All economies pegged to Chinese Yuan.

[@MMaheshThakur]

It is just a proposed yet

[@undeadpresident]

Any currency holding a monopoly status will be abused just as the dollar's status has allowed it to be.

[@TheFinnmacool]

All economies pegged to the Yuan? So the exact same thing but the Yuan leads and not the dollar? I think you are missing the point.

[@priyanksaikia5549]

@@undeadpresident There wont be one Currency this time. Yuan will never seek to replace the dollar instead it serves as the alternative to a dollar denominated world. All Economied therrfore can be measured in Yuan Terms as well.

[@undeadpresident]

@@priyanksaikia5549 The central bankers want to eventually implement a global digital currency.

[@shelleylabar6310]

Another "GREAT VIDEO" - Thank you again.

[@SajidKhan-dk6qt]

I wish the Yuan comes in the international market sooner than later!

[@markchan8110]

15:03 ".... US 30 trillions national debt is the mother of all debt trap...." 😂🤣

[@rap3208]

Too bad though. Ever heard of the "I owe you 1 million, I have a problem. I owe you 1 billion, you have a problem".

[@markchan8110]

@@rap3208 Well what you said is only half of the story. The other "Final" half of the story will be when China, Japan and then follow by the rest of the nations selling off US bonds, and this will be the end of USA. Check mate.

[@rap3208]

@@markchan8110 To whom will they sell it? Who would want to buy it knowing that those countries are trying to get rid of them? It still applies, they (China, Japan, etc.) have a problem.

[@markchan8110]

@@rap3208 China will sell it before it crash, so there will still be buyer, just like stock there will always be buyer.

[@markchan8110]

@@rap3208 May be China can't sell everything off, but just by selling off some huge amount to start the ball rolling could cause the US economy to crash. So sacrificing some money to bring down US is very worth while.

[@seymorefact4333]

👍🏻 want more competition to usa dollar. Competition is always good. As the Americans say!

[@kaiwalya3710]

Competition is good but not when opponents are Communist Pïgs🐷👍

[@seymorefact4333]

@@kaiwalya3710 look in your own house first. Clean up your mess before you preach to others. The sooner everyone realize this... peace will happen!

[@seymorefact4333]

@Beast Mode USA will go to war for sure! This time it will be nuclear everywhere! Be prepare... USA will not be immune. Push for peace.

[@siamcharm7904]

the US bonds are NOT being sold to anyone. just piling up on fed sheet,

[@mizzypoo4827]

Who NOW wants to buy useless IOU, propping up the dollars, so it can maintain its hold on the world financial sector.. when you use your Premier American Express card like there is no tomorrow.. That's self inflected prophecy is just that.. There is no $$$$ Tomorrow.

[@lesstom3308]

Who want to buy the bonds that backed by printing more paper money and paper gold reserve!!

[@terrybizzle9027]

The Japanese taught them how to do it. Haha

[@ramavijaya148]

China had bought much of them , it's reserves in USA is in $. What happened to Iran could happen to china also . Next why china do not trade even with India like countries is yuan or any other currency.

[@siamcharm7904]

@@ramavijaya148 those dollar reserves are held in peoples bank, beijing in t-bills.

[@guytouquet]

Probably won't be long before I'll need a Yuan credit card to make many online purchases, whether I'm in the USA or elsewhere,

[@GregoryWonderwheel]

Thank you for your show in English informing us about the Chinese perspectives.

[@evehawasinare228]

Another point is that the US will soon be self-sufficient in oil and gas and may become a net exporter, a competitor to Saudi Arabia. China is one of its largest buyers of Saudi oil. Makes sense to agree to be paid in RMB instead of the USD.

[@irritatedanglosaxon1705]

Good point, our oil was a bloody hell oil taken out from murdering, bombing gulf people

[@kuga7423]

Are you sane? Don't you know there are many other oil producers and not just US? They cant even fulfill their own need. 🙄 Many of the sanctioned countries are oil producers and they will happily sell their oil to China. Don't you know that?? 😳😳😱

[@kangkengsoon926]

Good luck with extraction of "lucrative" shale oil😊😊😊😊😊.....

[@elqsabe1]

It won't happen, all the extreme left radicals " green" energy won't allow that, Canada has the biggest reserves still leftist control everything !

[@elenastone6011]

@@kangkengsoon926 Extracting shale gas is bad for the environment and costly logistics and processes, special cylinders to use and have to watch pressure and temperature.... could be dangerous as well.

[@cinpeace353]

Why wait for Saudi to decide the future of RMB? China could start with their trading partners in situations they see fit. Investment in real life is never all in or all out at one trade.

[@kathri1006]

With digital yuan and making it available to global citizens through international banks, people can start using it over the internet in buying goods. They can be internally bought if the goods can be paid in any currency and they can be posted from.inside, if international posting is not possible.

[@undeadpresident]

And also the Communist Party can take your yuan from you at a whim if they think you have done or said something they don't like. Yes that is wonderful isn't it! Maybe you should rethink the notion that central bank digital currencies are a good thing. Digital fiat currencies are tools of enslavement that far surpass simple fiat money. You accept these and your entire soul will be owned by the bank.

[@UPdan]

Excellent show.🌎

[@Richardson_Mg]

Great content!!!!

[@ryanangel2361]

When saudi may spend their yuan money to others country. That's demission of dollars closer.

[@irritatedanglosaxon1705]

KSA ready to accept petroYuan, the question is.... Was China ready to what KSA ask for, incl security guarantee fend off the Anglosaxon preys ???

[@py_tok5589]

yes

[@JkJK-pb5qm]

Good question! That's why Xi is invited to visit Saudi. Only by then both countries can find out a solution to protect Saudi's interest and most important, the royal family in power. The best example is the relationship between China and Pakistan if open a Chinese military base in Saudi is not practical for the moment.

[@clarenceedwards2866]

Just to make a suggestion here about transacting in other currencies; what countries that are hated by the US can do is to exchange a portion of their currencies with each other. For example, take Iran and China who are trading partners but are not able to use the Swift system. What they can do is to exchange a portion of their respective currencies using the global rating system to determine how many Yuan would be equivalent to the Rial and vice versa. According to the latest stats: 1 USD = 6.37 Yuan and 1 USD = 42,000 Rials; so dividing 42000 by 6.37 gives 6593.4 Rials which would be = 1 Yuan and right away they could trade with each other bypassing the US dollar with their own currencies by placing on each other's central bank, the equivalent of say 100 million USD or whatever amount they choose to exchange.

[@drakekoefoed1642]

if i were running bank of china, i would have accounts in dozens of currencies. ebay can change my dollars into indonesian rupiah in seconds. russia is doing it except they don't take title to the dollars, but arbitragers will do that.

[@salsachip4980]

De-dollarization is a must to prevent criminal sanctions imposed by the US but if yuan strengthens too much it might hurt Chinese exporters, it would be interesting to see how this will play out.

[@PA-eo7fs]

How are sanctions on Russia criminal? What about Russia attacking sovereign land

[@herta3286]

@@PA-eo7fs I would suggest reading Henry Kissinger, Sen. Bernie Sanders regarding this. Warsaw pact dissolvement, how nato on the contrary is getting stronger and has been expanding eastward towards Russia.

[@PA-eo7fs]

Herta that doesn’t answer the question. Sanctions are a mechanism to counter an invasion on sovereign land, and Ukraine is not in NATO, should the world stand by and not sanction Russia?

[@PA-eo7fs]

Herta and if NATO gets new entrants where sovereign independent countries join, that’s not Russia’s business. If India joins the QUAD, should neighboring countries attack India, or if China builds an alliance should neighboring countries attack them?

[@herta3286]

@@PA-eo7fs Thats exacly what sen. Bernie Sanders was saying. How would the US feel if missiles are placed between US and Canada, US and Mexico. Would the US say, oh.. thats ok, they're sovereign nations. They can do whatever they like.. Not likely right ? Now, refer back to 1960's when the USSR was about to place their missiles in Cuba, which almost started WW3 should Breschnev (?) didnt back down and pull back his war ships to USSR. Just for reference, Cuba to Washington is 3 hours flight whereas Ukraine to Moscow is only 35 minutes or so. Henry Kissinger was a soft spoken and rarely spoke out US President, he expressed his grieve and concern regarding Ukraine joining NATO, he said its best to leave Ukraine alone, just build its economy or Ukraine will be crushed. Their views are all disregarded and now we see what we see Its really sad to see a country, its people were killed and life's being destroyed just for the hegemony of a country.

[@Darkmatter321]

As an American I can not wait for this to happen. May be, just may be, it will force the US gov to become a more humane and civilized government

[@undeadpresident]

USA is run by assholes but don't think they are the only ones. Take a sober look at China's history you'll see that although in the past century they haven't been waging wars abroad like the USA they have abused their own people to the point of the largest genocide in history. Every time communism is imposed food shortages occur. Currently the World Economic Forum is in the process of implementing their "great reset" plan for global communism and it's no coincidence that global food shortages are coming now. While actual starvation in the USA isn't poised to happen from this, economic destitution is. Be careful what you wish for. The elites running the USA are not the ones poised to suffer. You are.

[@danhtran6401]

You won't even have a functioning society without a stable government led alone being number 1 in the world. You don't have to wait, if you don't like your government just move to Canada.

[@undeadpresident]

@@danhtran6401 You aren't familiar with Justin Turdeau are you....lol

[@danhtran6401]

@@undeadpresident then move to Greenland. Keep going up until you're all by yourself and ruling your own kingdom. Then you don't have to answer to any government.

[@undeadpresident]

@@danhtran6401 So according to your logic, because I want basic human liberties I should move to the frozen north and live alone. Doesn't seem very realistic or pleasant. Here's a question for you, why do you go on Western social media and talk such nonsense? Clearly you don't have values that are in alignment, maybe you should just keep to your own then.

[@fellsmoke]

Everyone talks and speculates, until it happens that's all there is .

[@mizzypoo4827]

Divorcing or decoupling is painfully hard for either party, how to minimize the effects on the children, will take time to solve certain problems.. Ain't gonna be pretty & someone gonna be very upset about it...

[@fellsmoke]

@@mizzypoo4827 people in relationships they are seriously invested in run a high risk of a divorce if their only concern is for themselves, and they are actually abusive to their partner. They shouldn't be surprised when they find an empty house, although many are.

[@vkrgfan]

@@fellsmoke Exactly!

[@BWong1234]

An excellent discussion !!!👍

[@anandsamuel1978]

Brilliant unbiased show! Love your show!

[@beatrizmunguia8316]

THANK YOU CHINA & Saudi Arabia great step !!

[@boostershottimesoldier3741]

In the end of the day what is it that Amerikkka exports to the world outside of dollars? The transition pretty much could happen for a night if China bans the use of dollars. The other way is if the countries just like Saudi Arabia decide to trade with China with their national currencies but then China should have to evaluate each country's currency case by case witch mean new international financial system or WW3.

[@emmettcrowder6749]

Well… they just did it.. The United State must pay for Russian oil Barrels based on Russian Currency not the Dollar !!!! That and the yuan will weaken the the Dollar Quick Fast and in a hurry !!!!

[@drndomomelinguitherese]

Thank you so much for sharing. It's fascinating !

[@Fogaata]

Very illuminating discussion. Appreciated.

[@Rechyyybee]

🇷🇺🇨🇳❤👍🎉💐

[@heleneallane6444]

Long life Russia and China

[@raven_skywalker1001]

Great Discussion.

[@mosesmoses2867]

Tusted news channel keep up with the good work, we are living in compitative world why should the whole world really on one currency for trade, God bless chaina

[@RoySingh0611]

We’re already paying with Yuan for all our Imports from China and we get more price stability. I dont understand why the need to use US$ and Import Inflation? 😳

[@elon6784]

Because china needs the us tech and companies. Thats why they still need usd, and a small amount of your local currency to buy your lands

[@RoySingh0611]

@@elon6784 Foreigners are not allowed to own Land in my country but they can Rent it 😊👍

[@rap3208]

It's the momentum, it's just so easy to use the dollar as everything is set up. Nations still use it even as the US keeps on using it as a weapon. Somehow, somewhen, nations should wise up and support any alternative currency so the US won't be so high and mighty with their dollar.

[@RoySingh0611]

@@francois1461 indonesia

[@rap3208]

@@elon6784 You must be stuck in the 90s or even 2000s, gone are the days when China was reverse engineering, copying western tech. China is now the leading edge of new technology. Ie. AI, EV, quantum computing, fusion energy, etc.

[@amjadawan7724]

When en empire falls, its currency falls. It has happened in all previous empires. China has already gained No. 1 status. They have outmatched west n USA in every sector. RMB will be the currency of the world before 2030.

[@undeadpresident]

China's quality of goods still isn't as good. Half the time Chinese products are tainted with toxic chemicals and don't last long.

[@user-mhgu6om9mj2t]

Saudi Arabia is playing both sides. U$ petro dollar will continue to be the world's reserve currency for the forseeable future. It will take time for Yuan to compete. I agree that all countries should settle transactions in their own currencies. You would not see U$ weaponizing Swift and western financial system. All countries should get off U$ dollar sooner than later.

[@michaelmullins3396]

A Good time to buy RMB/Yuan, and Rubles.

[@tschoong3897]

China will have to create a new international currency with other countries or use its current currency to control the financing of its international trade in order to be independent of any other currency in the world.

[@buddyoo4942]

Not far if RMB is not artificially peg to the USD. Once RMB is unpegged, all China's export can be priced in RMB and PBOC provide unrestrained RMB liquidity into the market then it will not be far. The question is whether China is willing to accept payment in RMB - a currency which they can create / print and lift its capital control? PBOC can issue its digital (CBDC) currency for this purpose.

[@buddyoo4942]

And China banks need to extend RMB credits / loan to as many countries as possible.

[@humanity1581]

I like to your analysis... What if China, like Russia, insist that USA pays its import from China in RMB?

[@hylimm]

Why China can’t use yuan together with others to trade with the west

[@mcguerd8]

Yes, it makes sense to use local currencies in bilateral trade. The problem is that countries sell 10 to China and buy 90 from China.Where are those countries going to get the missing 80 in Yuan?

[@esseabdi1095]

From somalia I hope this happen no more monopoly dollar

[@ratnabahadurgurung9850]

Listenable discussions.

[@igbc176]

The human race needs the Chinese digital yuan now

[@igbc176]

@Beast Mode if you have the balls to go to war try save that Nazi country you support

[@73oxen]

@Beast Mode see you there.

[@cks7298]

Happy to know that Russia China Arabia push yuan in to international currency.

[@PhiloSurfer]

Russia invaded Ukraine - US froze Russian central bank assets US invaded Afghanistan - US froze Afghanistan central bank assets What's wrong with this picture? Am I missing something here?

[@LaowaiDaveJCP]

Can't wait to use my Wechat wallet for buying groceries here in UAE like i used to in China back in the days

[@chaulang6210]

Yuan payment internationally will replace Swift and other Dollars dependant countries .

[@strydah8971]

Every country should have the yuan in there reserves to make payment in trade

[@decoloniz_afro]

Verygood

[@isuruthiwanka9448]

May your goals succeed 🙏

[@beercan4835]

1 United States Dollar equals 6.35 Chinese Yuan you're just an alternative but you can't dominate the dollar

[@danhtran6401]

What alternative?... There is no alternative. Investing in China is like investing in Venezuela. Their debt to GDP is beyond 300% and Evergrand is defaulting. China is far from lowering pollution nor are they energy independent. As least the dollar is backed by oil and semiconductor....:)... That's all you really need to understand....

[@frankgao6138]

I will use to save money during the exchange, transit, etc.

[@humanity1581]

I like your analysis... If China insist, like Russia, that USA pays its import? in RMB

[@vajpuabtais6188]

Why China not get up and start trying to sell the Yuan? Don't just sit back and allow the world economic and politics to drag the Yuan?

[@aredtomato8957]

Erm.. I saw this question on another show. If not mistaken the Yuan doesn't really want to totally replace the dollar. They just want to reduce the influence of dollar. Because if Yuan goes international then those made in China goods will become expensive. They didn't want that to happen. Basically you can see it as China just want to cut the weight of US not ending US. 🤣 It really requires skills to be the 2nd place but on par with the 1st place.

[@aredtomato8957]

I not sure my explanation clear enough or not.. sorry for my bad English. China just want to balance the hegemony not swift the hegemony into their hand.

[@raygan777able]

Step by step. China does not do things in a rush. There are a lot of things involved and have to be cautious about.

[@AndiWidjaja]

There is a good reason China control the flow of RMB in international market, mainly to avoid RMB being manipulated by global speculators.

[@aredtomato8957]

@@AndiWidjaja Chinese knows those Rothschild families, Soros these mdfk waiting to milk China and their govt won't let them get a single drop of milk from China. 🤣

[@clarenceedwards2866]

Inasmuch as I don't like the US one-sided policies, I still wouldn't want to see the end of the US dollar, but rather a basket of currencies whereby this one currency cannot dominate or be used as a weapon to destroy the economies of other countries as is currently the norm. As a consequence of which the world needs the Yuan and also the Ruble too; and of course we cannot forget the Euro.

[@kathri1006]

It is my ignorance I guess. Can we think of an alternative money use without a single reference currency but on individual currencies that are bought and sold only on the production/ buying power on countries. Just like any commodores. There can be few currencies that may represent preferred status, the main economies, like Chinese, India euro, Japanese yen, Singaporean dollar , ruble, even some Middle Eastern currencies. The countries are free to choose.

[@ramavijaya148]

Best is GOLD,, a universal one . It is NOT of any country currency

[@kathri1006]

@@ramavijaya148 The problem as I see with gold is the availability is low to meet this crazy manic demand created by money markets which us insane and taking the whole world populations to some how work like mad and be ransomed to the fluctuations of the commodities, like a casino. Another way nay be to separate the two and let them gamble but ring fence the essentials like oil, food, medicine, shelter supplies from the casino. So they can gamble to their hearts content without holding the two standard deviation population to ride their madness of rise and fall. We can conveniently step out unless we want to jump. This is fair I guess.

[@ramavijaya148]

@@kathri1006 true. But this will be like shares settlement . There will be an escrow , say a xy bank ot controlled by any one. Suppose india , Russia trade . At the end of a set period say 1 month, if india has to pay , then they will either deposit the eq amnt of gold or govt will guarentee the due . This can go on . Only problem poor countries , if they dont have gold , they can buy, . a good , fool proof system can be worked out . But the USA , Euro will not allow this to happen . This is close to Barter system, which was the start of trade

[@picandvideo]

The reason many nations are not ready to get out of $USD because they have held large amount of $USD. They are beginning to panic don’t know what to do.

[@hayden1770]

I love China! I look forward to when China is the undisputed leader in economics, technology, culture, military, and politics. Anyone who thinks incumbents are invincible and are here to stay forever, and that the US dollar is immortal...just look at the British Pound, the Dutch Gilder. The Portuguese, Spanish, Dutch, French, and British all had the most popular reserve currency of the western hemisphere for about 100 years each. Just ask the Romans from 1800 years ago when they decided to inflate and dilute their currency by putting less gold into their coins. Also, keep in mind that reserve currency status is usually the last characteristic to decline when an empire or world power declines as a whole. The British pound stuck around for a few more decades after the US economy had already surpassed the British economy before the turn of the 20th century. The final nail in the coffin for the British Pound was the Suez Canal Crisis after Eisenhower disagreed with Anthony Eden's actions and the US sold off British debt securities. They linger on for a bit longer because it takes time for all the cheap liquidity/money sloshing around in the world economy that needs to be squeezed down before the new top dog currency moves up the food chain.

[@lastprophet9904]

Petroyuan 😏😏😏

[@frankgao6138]

and cannot wait

[@felixnewman2473]

There is no way I am holding a currency that is managed by a bunch of Gangsters!!!!!

[@winkekatze5593]

Do you mean USD or RMB?

[@nagarajansridhar314]

Good luck to yuan, With BRI into India, BRICS can be revived as a bulwark of peace

[@jonathanbethune9075]

" may the Yuan be with you, always . "

[@JkJK-pb5qm]

Amen.

[@travismartinson1813]

The Swiss Frank could have been the reserve if they had maintained neutrality. A Swiss bank account used to be the best in the world. I think the reserve will switch to a basket of currencies or possibly go back to gold.

[@Tempest-Proteus]

Basically, there is no need to make much changes to the financial system as there will be direct exchange between a buying/ selling country based on a fixed or agreed exchange rate.

[@peternguyen5476]

Follow the money.

[@absolutejewel]

It's not who will be the next reserve currency, the key is to diversify away from USD. Even if countries need to do barter trade with one another, so be it.

[@daciimini8672]

Me in indonesia willing to change to yuan than usd. The faster is better. No place in this world for bloody usd

[@demoneyezgamerz3500]

Good news, I want to criticize the west and want my money safe…

[@hansudowolfrahm4856]

Inflation is good for me a European who invested into the Yuan.

[@HighMojo]

In order for the yuen to become a replacement for the dollar, China must make a covenant in writing, that it will not weaponize the yuan, and all parties will be freely allowed to trade in yuan without fear of discrimination. This will give all countries using the yuan the impetus it needs to be adopted as a global currency. One implication or side effect of this is that it would also mean that the yuan can be used in all transactions including illicit ones, which may include the drug trade and others. But that is a price that one has to pay for openness. You will simply have to accept the bad along with the good.

[@noshiniqbal5132]

Will America let this happen

[@christophmahler]

A crucial debate. Make sure that the algorithm _hides it as deep as possible_ from any Western audience...

[@manabdebbarma2989]

More middle east n african countries should use rmb for their own development.

[@sheikhwaqr6401]

If China , Russia, Iran , Turkey and all other countries whose currency is being sanctioned wishes to stabilize their trade and stabilize their currency, they all need begin to trade commodity with a commodity to settle all trade. That commodity is called Gold. That is the first step they need to achieve to stabilize themselves in this global market .

[@navajyotichetia8968]

Opium was the currency the crown colonial government of the eighteen century used to buy Chinese tea and silk. Both the currency was of great demand for both sides and the currencies flourished. Now a similar example of "intense trading partner having healthy two way trade" Could be used to define the currency question

[@phliptudu3691]

It is right time to kick out dollars from the financial systems.