legion-media Economy
The global authority of the Chinese yuan is getting stronger every day. Economist Maslennikov believes that the Chinese currency could well replace the US dollar on the international scene, reports FAN.
A growing number of states moving to yuan settlements are becoming a threat to the dollar system. It is unlikely that a multi-currency global financial system will really manifest itself in the next decade, but such a development of events is very likely. So far, in international settlements, the yuan is only getting stronger, and the dollar is still far behind.
- In the foreign exchange market, the Chinese currency is trading with the dollar, and settlements in Russian rubles are also increasing. Of course, there are corporate bond issues placed in yuan, deposits in yuan are opened. Therefore, there is such a trend – the positions of the yuan in the Russian market are getting stronger, – the expert pointed out.
The only problem today is that the yuan is still a reserve currency and not convertible. As much as the Russian Federation and other countries would not like it, but it is the dollar that today remains a measure of value. That is why, according to Maslennikov, the full consolidation of the yuan as the currency for international payments in the world is only possible in the next few decades.
Earlier, analyst Isakov informed that the Chinese Yuan is a reliable currency for savings. The expert pointed out that investing in the yuan should hardly be seen as a way to earn high returns.
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