Sheldon Cooper/Keystone News AgencyThe yuan will be able to displace the dollar from the position of the world currency at the earliest in ten years, quotes the forecasts of Nikolai Kulbaki, associate professor of RANEPA, candidate of economics <a rel="nofollow noopener" target="_blank" href="https://ura.news/news/1052632567?utm_source=yxnews&utm_medium=desktop">URA.RU</a>.
According to him, the yuan will certainly not be able to reach the status of a world currency in the next ten years. The economist acknowledged that all market participants are interested in a single global currency, but at this stage no one will specifically challenge the dominance of the dollar. Usually the loss of first currency positions happens by itself – it is a steady and slow process. Moreover, it is no longer profitable for countries that use the dollar in mutual settlements to refuse it.
For a currency to become global, several conditions are necessary. First, the economy it represents must be sustainable and have a stable history. Only the United States meets these requirements, while China’s economic history is short and unreliable, Kullbacka said.
