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You are right about yuan and it's also the reason why USD is hard to dethrone. Russia even made it amply clear that it won't use yuan for the reasons you mentio
by ShivShankaran 4y ago
You are right about yuan and it's also the reason why USD is hard to dethrone. Russia even made it amply clear that it won't use yuan for the reasons you mentioned. A proposal was to use basket of currency or a new currency backed by precious metals.
Pretty sure one of the above will happen over the next few years
- kasey_junk 4y agoThe US is one of the largest global holders of precious metals. You could perhaps replace it with a rare earth basket but that is effectively the yuan…