Russia, China preparing to eliminate our reserve currency statusAlex VanNess
The biggest energy deal between China and Russia could be the catalyst that dethrones the greenback as the world's reserve currency. Some economists, commenting on Russia and China's 400 billion dollar natural gas accord, say that the dollar is becoming rather weak since many countries are likel...
No nation wants war and Afghanistan desperately needs peace. With America out of the country, Afghanistan can begin to heal the wounds bought on by the US. Once the nation is stable politically, China, being the unifying force for the region because of its economic scale and prowess, it can...
The president said the Chinese renminbi (RMB) is expected to become an international reserve currency in a wider scope and the two countries are pushing forward home currency transaction in bilateral trade. He hoped that the two sides could continue to boost mutual investment and jointly exploit ...
A noted international specialist on the Russian economy compares the different mechanisms by which the emerging powerful economies of Russia, China, and India accumulated substantial foreign reserves during the 2000s in the lead-up to the global financial crisis. He also investigates the costs incurred...
If a Russia-and-China-centric economy can be developed, the US dollar will no longer be the world’s reserve currency. Trade will be in the currency of the new Russia-China block. Outside of this block, local currencies will play a dominant role. Most of today’s debt...
many parts of the current economic system are in danger of failing, primarily because depletion is leading to too little energy and other resources per capita. For example, the US dollar may lose its reserve currency status, the world debt bubble may pop, and globalization may take a major...
the Central University of Finance and Economics' Institute of Securities and Futures, said the use of the renminbi has expanded in Russia as the country seeks to boost local currency settlements in the face of financial sanctions while economic and trade cooperation between China and Russia deepens...
potential impact on globalization, Rhee, together with his colleagues, wrote in a recent IMF blog that it "may fundamentally alter the global economic and geopolitical order should energy trade shift, supply chains reconfigure, payment networks fragment, and countries rethink reserve currency holdings....
’Both China and Russia have stated they no longer support the hegemony of the US$ as the global reserve currency. They cannot replace it themselves, but they can operate outside of it, and they can support alternate global systems. That is what truly scares the US as it sees its own ...