The beginning of the end of dollar dominance?

The US dollar has been the world’s reserve currency for decades. This has meant more favorable lending conditions for America. Now, it looks like China is making a play to displace the dollar.

“Zambia is set to accept the Chinese yuan for some copper exports starting next year, marking a significant move away from US dollar dependency.

 

“This innovative payment approach could lower transaction costs and minimize currency exchange risks for Zambia’s crucial copper trade with China.

 

“China’s push to internationalize the yuan is gaining momentum, as seen in recent yuan-based energy and mineral transactions worldwide.”

 

China is struggling with overproduction of goods that can’t be consumed internally. Until they get their economic house in order, they won’t displace dollar dominance. But Trump is actively eroding internation trust the US good faith and credit.

 

https://www.facebook.com/businessinsiderssa/posts/zambia-is-set-to-accept-the-chinese-yuan-for-some-copper-exports-starting-next-y/1138853798701563/

 

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