nostr:npub106dam65ww9ztdqj26xvh08dyuc7lj7nmkrtrujwsmyq2n6g3r33saq3m89 nostr:npub1mh5a6mhm4u78glqxhltq7uexv6kddphycthlguvn0ux8ch72tc8q6q233h It's an enormous gap to bridge for the RMB. It seems far more likely to reach a state of multipolarity, where a majority of legacy trade deals and renewed trade deals are done in dollars because it makes more sense than direct currency trade, and specific cases where direct trade makes more sense, and specific cases where using a coalition-dollar like BRICSbucks makes more sense, reaching some equilibrium where the US still has legacy pull, but will be forced to become competitive again in the face of a new multipolarity of power.
nostr:npub1mh5a6mhm4u78glqxhltq7uexv6kddphycthlguvn0ux8ch72tc8q6q233h
dollar 65->58% that's quite a loss, and in 2023 BRICS nations have just made some major changes so we'll see where it is at the end of this year. i predict the trend continues and yuan continues to rise and dollar falls
Discussion
nostr:npub1wmxn3vqkzhd2a47gkt6hdjwp49cxzl3m0l67pzkrn9kllhrkhfhqfxv89s nostr:npub1mh5a6mhm4u78glqxhltq7uexv6kddphycthlguvn0ux8ch72tc8q6q233h the dollar had ~ 8% official inflation last year (or the year before) and our international credit rating was just downgraded slightly.
i don't know how long the USA can rely on inflation, debt and wars propping it up.