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De-dollarization trend
continues
The de-dollarization trend continues. The IMF is likely to add
the Chinese yuan to its basket or reserve currences, i.e. USD,
sterling, yen, euro. China's goal is of course for the yuan
to become the global reserve currency, and Middle East countries
have recently been supporting non-USD oil trades. With the amount
of dollars out there worldwide, if it loses favor confidence in it
could fall quickly. This isn't something which will happen
overnight, but it'll be interesting to see its effect 10 years from
now.
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