Since the withdrawal of troops in Afghanistan, the US's international status has plummeted. Although the US is still a superpower, it is undeniable that he is indeed going downhill. Everyone knows that the US has its current status, except for its super military strength. In addition, there is another important reason, and that is the hegemony of the US dollar. But now that all countries in the world have begun the short-distance of de-dollarization, how long can the status of the US world hegemony be maintained? Why are so many countries starting to de-dollarize? What impact will it have on our country?
After World War II, the world ushered in peace, and the United States has become the most developed country in the world because of its wealth of war. The US dollar hegemony that has lasted for more than 70 years since World War II is now beginning to falter. , Why did the United States develop to this point? In fact, after the 2008 economic crisis, the U.S. economy has not developed very well, and the U.S. debt has skyrocketed, social conflicts have intensified, coupled with the impact of the epidemic, the U.S. domestic economy has been messed up. In order to stimulate economic growth, the Federal Reserve has gone crazy. The printing of U.S. dollars and the continuous harvesting of wool from other countries in the world have now finally been countered. Do you know how the United States uses "dollar hegemony" to harvest the world?
As the largest investor in the world, the US dollar is the largest circulating capital flow in the global industrial chain system dominated by the US. After the end of World War II, the United States relied on the " Marshall Plan " to aid Europe with a large amount of US dollars, which created the prosperity of West Germany . During the Korean War , Japan achieved economic take-off thanks to US aid and war orders. You can say where the dollar flows, there will be prosperity. Wherever the dollar leaves, there will be a crisis. In the United States, is harvesting global wealth in this tidal cycle. The Fed has affected this tide by cutting interest rates and raising interest rates .If the dollar loses its dominance, what impact will it have on the United States?
will lose the right to dividends in the first economy. The United States relies on the US dollar as the only settlement currency in the world oil trade, and once it brings continuous dividends to the United States The United States has lost its dominance, and the U.S. dollar’s role and status in world oil transactions will no longer exist. This will cause very fatal losses to the U.S. economy. Second, countries and individuals that once held a large amount of U.S. dollars have suffered heavy losses. 3. The U.S. stock market may crash directly, triggering a domestic economic crisis. Fourth, the inability of the United States to repay the huge amount of national debt may result in the US government having to announce the suspension of operations and bankruptcy. Fifth, economic support is lost, and military strength and technological development will be severely affected. At present, many world powers such as Britain, France, Germany and Russia have begun to implement de-dollarization. Iran is also firm in its position and will carry out de-dollarization to the end. In addition to Iran, the oil powers in the Middle East, and Saudi, also expressed their intention to use multiple currencies. Settlement of oil, and Saudi Arabia also stated that if the current situation changes again, the petro-dollar agreement may be terminated in the future. This decision can be said to have given the United States a headshot. After all, the relationship between the US dollar and oil is inseparable. Hegemony may usher in a fatal blow. Japan and South Korea began to dump a large number of U.S. debt in exchange for gold to be shipped back to China. Russia also cleared all U.S. debts and shipped back a large amount of gold. This also shows that Russia is determined to de-dollarize. It is a fighting nation, Britain, France and Germany. It also jointly launched a new settlement mechanism, which has made a good start for other countries in the world. It is possible that in the near future, many economic systems will be able to develop new mechanisms that bypass USD transactions. Although the current dollar crisis is full, de-dollarization still has a long way to go. After all, the hegemony of the dollar has lasted for a long time. It is impossible to complete de-dollarization in an instant, but fortunately Western countries have also reached a consensus. , This may represent the collapse of dollar hegemony.
is the opposite of the United States,Good news continues to come from our country. Recently, a piece of news has become popular on the Internet. It turned out that the status of the renminbi has risen from fifth in the world to third in the world. How will this affect our country? After the reform and opening up, my country’s economy began to develop rapidly, and the status of my country’s currency in the world has also improved a little bit. Compared with the currencies of other countries in the same period, its advantages are very prominent. The renminbi itself is a very stable currency. Therefore, there are more and more people using RMB, and the share of RMB international payment is also increasing. Currently, the auction is ranked fifth in the world. Compared with the world's fourth yen, the gap is very small. I believe that in the near future, the RMB will definitely Beyond the yen. As of 2020, the RMB internationalization index has risen significantly, while the euro's nationalization index has fallen. Why is the nationalization index of the RMB so high? First, the position of the RMB in settlement and pricing is constantly stabilizing. Second, my country and Iran have reached a consensus to choose RMB to settle oil exports. Finally, the obvious advantages of RMB transactions have allowed international investors to decisively choose to use RMB. With the improvement of credit, it also promoted the ability of renminbi's international reserve , and more and more countries began to reserve renminbi.
What benefits will the internationalization of RMB bring to our country? First, it will indirectly increase the per capita consumption level of Chinese residents, improve the quality of life, improve my country's international status, and increase China's influence on the world economy. Secondly, it means that Chinese residents will have more investment choices in the international arena, and make their own choices. The sex is greatly improved. It can also reduce exchange rate risks and promote the development of China's international trade and investment. reduces the impact of the international financial crisis led by the US dollar. finally gets the international seigniorage income. After realizing the internationalization of the RMB, the most direct and greatest benefit is to obtain international seigniorage income.
Of course, the internationalization of the renminbi will also bring about some negative effects, such as a certain impact on China's economic and financial stability. The internationalization of the renminbi has closely linked China's domestic economy with the world economy. Any disturbance in the international financial market will have a certain impact on China's economy and finance. Increase the difficulty of macro-control. When the domestic tightening monetary policy is adopted to raise interest rates to control inflation, the renminbi circulating internationally will choose the opportunity to increase the supply of renminbi, thereby weakening the effect of monetary policy implementation. Therefore, RMB internationalization not only brings benefits, but also challenges. Faced with the management innovation problems that may arise in the process of RMB internationalization, we need to come up with improvement strategies in time to meet future challenges and better Integrate into economic globalization. The era belonging to the renminbi has just begun.
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