China’s Ambitions for Dedollarization Take Another Step Forward with petroyuan as oil producers rally to Beijing, Russia has 'become an Asian nation,'

[kankan326]

Lol Then ask your self why CCP hasnt allowed (and probably wont ever allow) the Yuan to trade freely. CCP likes to be in control of everything, for them to allow the Yuan to be freely traded means they will lose control over it and it will be left to market forces which is something CCP won't allow anytime soon. Lol
So for those people who really believe in this nonsense propaganda then i have a bridge to sell you.
I have been seeing such threads by Chinese members about China pushing for dedollarisation and how the Yuan is going to rise to challenge the dollar as reserve currency/usage globally since i started visiting PDF 10years ago, yet there has been almost zero change since then. In fact even our currency the Pound is more traded globally/use as international payments over twice as much as the Yuan. Lol
The dollar still dominates completely and wont be going anywhere. In fact China will prefer to keep things that way as well, as it also benefits them to some extent Lol.
So people should stop with this silly propaganda of dedollarization.

The impossible trinity says that between free capital mobility, exchange-rate management and an independent monetary policy, a country can only choose two out of these three.

Examples of A, B and C.

A – Singapore: Manages exchange rates (managed float) and allows free capital flow > gives up control over interest rates, leaving it to market forces.

B – US: Controls interest rates and allows free capital flow > gives up control over exchange rates, leaving it to market forces.

C – China: Controls both interest rates and exchange rates > restricts capital flow. The last time China toyed with the idea of free capital flow in 2015, $1tril of their foreign reserves got wiped out and it dropped from ~$4tril to ~$3tril. Capital controls were swiftly tightened.

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Meanwhile PDF Chinese: We are going to liberalize the Yuan when we sell more EVs.

China wants its currency policy to serve its manufacturing. Remember that. Being world dominant currency means the country has to maintain trade deficit. Which is not good for manufacturing. China doesn't want deindustrialization like what happened in US.

Another concern for Chinese not allowing Yuan free trade is possible financial attack from west. China goods are no so profitable than west's. Which means Yuan is still vulnerable.

 

[Finer]

Anyone challeging the primacy of US Dollar will meet the same fate as Saddam and Gaddafi.

Putin's days are numbered and Russia will be balkanized soon.

According to the prophecy it is other way around. USA might get destroyed by the hands of China, Russia and North Korea.

 

[Beidou2020]

Dismantling of the American empire is taking place one piece at a time. Without the dollar used in global trade, the empire will collapse. Empire can’t operate only on the size of the US economy. It doesn’t have the scale to run an empire. Now that Xi has opened the door to energy trade from the Arab world to use yuan, there will be less dollar demand. Fed can’t print trillions and export it to the world and hope other countries will absorb those dollars. De-dollarisation is how the American empire will end. And it will be put into the dustbin of history. The process has started.