http://en.people.cn/n3/2018/1026/c90000-9512252.html
between the 2nd and 3rd top economies in the world is to put it mildly extremely significant for the US dollar.It is sidelining the US$ as the reserve currency of the world.
They have to do this in order to:
a. save themselves from the transaction fees they have to pay the US for using its currency
b. spare themselves of huge penalties if they traded with nations that the US has imposed economic sanctions on top of them.
There is an infamous case of HSBC being fined billions because it broke US trade sanctions between two nations that were doing a trade between themselves but HSBC happened to be the bank that mediated the transaction.
It was the most injudicious use of US hegemonic power and it brought great disrepute upon the US.
The HSBC case may have bee the spur to stop using the US$ as a reserve currency. Of course they will have to find an alternative currency.
Do I really have to tell which nation, against its better sight of interests is most likely with the currency that everyone else wants to work with.
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