China wants its currency, the yuan, to replace the U.S. dollar as the world's global currency

[nang2]

If there was any serious political will it could happen in the next 5-10 years but China herself doesn't seek it so quickly but rather 15-20 years time

It has nothing to do with the political will. It is all about military and economic strength.

 

[Titanium100]

It has nothing to do with the political will. It is all about military and economic strength.

Care to elaborate

 

[nang2]

Care to elaborate

Fairly simple. You don't want your wealth disappear at the time of economic crisis or political crisis. Political will won't help you prevent that. You need to fly to safety, which only the economic and military strength can ensure.

 

[Hakikat ve Hikmet]

So when is this great news coming true?

Tomorrow, may be earlier than tomorrow….

 

[VCheng]

Tomorrow, may be earlier than tomorrow….

Or may be next year, or even a few more years after that. Who knows?

 

[Battlion25]

Or may be next year, or even a few more years after that. Who knows?

Exactly. Anything goes I guess

 

[GumNaam]

Pakistan is increasingly switching its trade with China to the Yuan for a reason. So is Russia and Iran, soon, Turkey will join in as well. why would anyone wanna deal the usd given its crumbling infrastructure, defeats in wars and an ever increasing debt breaking $30 trillion that it just can't repay. usd is a dying currency it carries more liability than value.

 

[Beidou2020]

Digital yuan will bypass the US dollar clearing system and the SWIFT messaging system. There will be less dollars used for international transactions by China. This will significantly enhance China’s financial security from sanctions such as denial of dollar clearing and SWIFT.

Game changer!

 

[CAPRICORN-88]

Which is in fact a distortion of fact and the truth.

China merely wants to trade with other nations in its own national currency.

Which by itself will be significant because China is the world second biggest GDP and the world biggest exporter and importer.