Trump Warns Chinese Yuan Will Displace US Dollar

China Will Displace US Dollar As World's No.1 Currency: Trump

In a recent message posted on Truth Social, Donald Trump talks about China's attempt to establish Yuan as the reserve currency.

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The reserve currency, in simplest terms, is held in significant quantity by financial institutions worldwide and plays a significant role in international trade.

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The dollar has been a payment method in international trade for the longest time; however, recent developments in the global economy have posed significant threats to its strong foothold as a currency.

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The dollar's dominance is directly challenged by the Chinese Yuan, more so since it became the most traded currency in Russia.

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Countries like China, Russia, Iran, Saudi Arabis, and more have been downright critical of the currency and have been vocal about their plans to find an alternative to the USD for trade purposes.

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Earlier, Malaysian PM Anwar Ibrahim revealed plans to not rely on USD to attract investments. However, it is yet to seen whether Trump's predictions ends up being true or not.

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