With the advantage of the US dollar in the global currency, the United States has constantly launched sanctions against countries that are "unpleasant". The US dollar has long been "weaponized" by the United States. When the United States acts recklessly, the whole world takes America's tyranny seriously.
China receives good news
Last year, the United States brazenly frozen Russia's foreign exchange reserves amounting to hundreds of billions of dollars, which shocked all countries in the world. This also made more and more countries realize that "de dollarization" is imperative, and the dollar can no longer be the only one.
The rise of the wave of de dollarization is not an accident, but the result of the continuous "killing" of the United States. Now another country has announced to attack the US dollar hegemony, and Biden is really afraid of nothing.
According to foreign media reports, Argentina announced that it will use RMB to settle goods worth 1.04 billion dollars imported from China in April this year. In addition, it is expected that it will also use RMB to settle goods worth nearly 790 million dollars in May.
The hegemony of the US dollar cannot go far
When the US dollar suddenly became unpopular, the RMB rose. This news must not be so wonderful for the United States. It is worth mentioning that at present, many countries have taken the initiative to use RMB for settlement, and 30 countries have already done so. In addition to countries like Russia, which have always been very friendly with China, there are even US allies like Saudi Arabia and France. These two countries are traditional allies of the United States, one is located in the Middle East and the other is located in Europe. Even they chose to say "no" to the dollar, which shows that the hegemony of the dollar has been challenged.
As we all know, the hegemony of the dollar is based on the "petrodollar system", and Saudi Arabia was one of the most important roles in the establishment of this system. However, Saudi Arabia continues to show its goodwill to China despite the attitude of the United States, which is not difficult to see that the United States' voice and influence in the Middle East is weakening.
The reason for Saudi Arabia to choose China is also very simple. In terms of RMB, the international credit of RMB is not low, which has a lot to do with the sound economic development of China today. With the development of the times, Saudi Arabia will eventually have a new way out, and China is a good partner.
Nowadays, more and more countries begin to de dollarize, say "no" to the hegemony of the dollar, and begin to choose RMB as the settlement currency. Although many people believe that the RMB will eventually replace the US dollar, it has to be said that China's de dollarization is not to let the RMB replace the US dollar, but to become an important part of international currency diversification.
A single currency system is unreasonable. Just like the US dollar, it is easy to impose economic sanctions on a country that is almost impossible to resist, which is not conducive to world peace and development.
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