The Chinese yuan has replaced the dollar whilst India continues on its merry way buying oil from Russia.
https://www.reuters.com/business/energy/india-refiners-start-yuan-payments-russian-oil-imports-sources-2023-07-03/
Ah but you didn’t do your homework did you? The dollar at the start of the Ukranian war was 6.36 Yuan. This morning it trades at 7.23, a 14.6% increase.
And the Russian Rubble (sic) which was trading at 78.19 is now trading at 91.63. Back in 2003 it was trading at 29.6. This thing gradually cratered under Putin and it’s in an elevator going down with the Ukranian war.
Dumb leadership.
The US markets have been performing very well.
They thought they could block Russia trade yet on the long run the dollar is being replaced.
https://www.cnbc.com/2023/07/05/saudi-energy-minister-says-riyadh-moscow-oil-cuts-showed-unity-with-russia.html
That is missing the glaring point.
It has been a while now that part of humanity understood that dissociation from the western world would mean prosperity for them.
A country like SA has a tremendous lack in infrastructures: staying coupled with the West wont allow them to properly get an infrastructure.
They do not care how much a USD trades against their own currency, they care about no longer trading in USD.
Countries were caught in a debt trap: they sold goods to acquire USDs to buy the US debt.
Countries in the middle east traded bazillion oil barrels to buy USD debt, theirs coffers are full with USD debt.
Eventually, all these countries will refuse trading in USD.
Liberals cant understand that people may have their own perception.
While liberals are happy with SA toilet infrastructure killing children, locals may not be.
They may even have noticed that their primitive toilet infrastructure they had before the Apartheid killed fewer children.
No it’s not being replaced….they said the same thing about the Euro.
Hello petroyuan!!!!
Get over it... Live with it.
The stats show Central Banks around the world are decreasing their holdings in dollars. Further the trade settlments usung the dollar are declining.
Next time I see the graphs and figures I will help the Mozzzzquito out by posting them.
Mozz lives in denial.
"A country like SA has a tremendous lack in infrastructures: staying coupled with the West wont allow them to properly get an infrastructure."
What utter horse manure...
It's not about the dollar as currency, it's about the American consumer market...without it, China is screwed.
It's not about the dollar as currency, it's about the American consumer market...without it, China is screwed.
Certainly not.
In fact, that is one major issue or threat caused by China to the west.
Contrary to liberal nations that never uplifted a population out of poverty, China managed.
About 300 million Chinese are waiting to get their fair share of globalization. More than the 100 million in the US and more than the 120 million in the EU.
China market is ripe to turn massive. It will dwarf the US mass market which comes with full consequences as the US have used many times their mass market as a weapon.
The problem for China is to secure the trade lanes to feed their mass market and that is how the liberal nations are all military operations around the world since due to globalization, they are the ones policing the trade lanes.
The West will want to keep it that way so they can put pressure on China, going up to starving Chinese.
China no longer need the US market, they had a use to it to get USD to be traded for goods all around the world.
As the part of the world is dissociating from the West, China will have a direct access to resources without having to go through the USD.
.they said the same thing about the Euro.
Who they.
The situation is very different. Europe relied mainly on a mass market to give the Euro a power position. The offer was too weak.
Now this is not happening right now.
China's market is mature to turn massive, bigger than the US market and more importantly, the peons are leaving the US empire. Slaves are walking from the plantations as it happened during the civil war.
The weak point of what is going on: the military side.
At the moment, they do not need a military as countries are joining on terms of cooperation and not by conquest.
Problem: walking away from the plantation is not that easy. The West will play their military cards.
They can not seduce the peons into staying. They are cracking the whip.
What utter horse manure...
Kids drowning in the toilets are probably drowning in human feces.
Who cares though. Certainly not SAns who are addicted to rugby.