Media: Russia, Europe and China intend to act as a united front against the dollar

The European Union, Russia and China are determined to squeeze the dollar out of world markets and reduce its role as a reserve currency - the process of transferring settlements between the EU countries, Moscow and Beijing to national means of payment is gaining momentum. The Trumpet writes that the US currency is going to be replaced by the euro, rubles and yuan.

This year, the share of the dollar in settlements between Russia and European countries fell below 50 percent, although half a century ago it was about 90 percent. In bilateral monetary transactions between countries, the euro began to take a large share - about 30 percent, as well as the yuan and the ruble - in aggregate about 24 percent. The share of the European currency in the export settlements of the Russian Federation and the EU grew from the end of last year to the first quarter of 2020, inclusive, from 38 to 43 percent. Since the introduction of the euro, the share of the dollar in the reserves of the world's central banks has dropped from 70 to 60 percent.

According to analysts from the Foundation for the Defense of Democracies (PDD), China seeks to replace the dollar with the yuan and become a world industrial empire, and this idea is based on cooperation with the German industry. In turn, European Commissioner Gunther Etinger called for the de-dollarization of the European continent and the creation of a "monetary counterbalance" to the American currency. Policy Europe is talking about the need to create a "new Bretton Woods" and replace the dollar with the euro as the main means of payment on a global scale.

The German-led European Union will soon join forces with Russia, China and Japan to cut off the US from most markets

- believes the chief editor of The Trumpet Gerald Flury.

According to the expert, the outlines of such a union are already quite visible, and its strengthening will bring big problems to the dollar's domination.
  • Photos used:
We are open to cooperation with authors in the news and analytical departments. A prerequisite is the ability to quickly analyze the text and check the facts, to write concisely and interestingly on political and economic topics. We offer flexible working hours and regular payments. Please send your responses with examples of work to [email protected]
Dear reader, to leave comments on the publication, you must sign in.
  1. Bulanov Offline Bulanov
    Bulanov (Vladimir) 13 November 2020 09: 40
    The United States (according to the United States) holds huge reserves of gold. And how is the euro secured? The EU also stores its gold in the States. The yuan is more likely to rise if the regularone stops its own depreciation.
  2. gorenina91 Offline gorenina91
    gorenina91 (Irina) 13 November 2020 11: 14
    Media: Russia, Europe and China intend to act as a united front against the dollar

    - Ha ... - It's like in a retro advertisement ... - "Citizens, keep your money (funds) in ... in bitcoins ..."
  3. Pandiurin Offline Pandiurin
    Pandiurin (Pandiurin) 13 November 2020 11: 44
    If the confrontation increases (trade, sanctions on goods and finance, investment bans, etc.) between the dollar on the one hand and the yuan + ruble + euro on the other.
    The British will benefit from this because of Brexit, they do not participate in a common European policy, they can stay away from "military" actions. But they have powerful financial instruments: exchanges, banks, their own currency, offshore.
    And they will be able to carry out without any problems all kinds of transfers among all these currency zones.
    Such financial smugglers.
  4. Oleg Rambover Offline Oleg Rambover
    Oleg Rambover (Oleg Pitersky) 13 November 2020 12: 04

    We have been waiting for 20 years. And if you remember the newspaper is true, then probably all 70.
    1. the Saint Offline the Saint
      the Saint (Santa Claus) 14 November 2020 20: 34
      And who will lead the united anti-American (anti-dollar) front?
      I am proposing Putin's candidacy. He has just gone to zero and will be able to lead such an association for life.
      1. Oleg Rambover Offline Oleg Rambover
        Oleg Rambover (Oleg Pitersky) 14 November 2020 21: 33
        Great idea, all that remains is to inform the Europeans and the Chinese that they are on the anti-dollar front and are headed by Putin. They will be delighted.
        1. the Saint Offline the Saint
          the Saint (Santa Claus) 14 November 2020 21: 46
          At least, even if they do not rush for rubles, they will at least find out about such news.
  5. Jacques sekavar Offline Jacques sekavar
    Jacques sekavar (Jacques Sekavar) 14 November 2020 23: 52
    1. The Russian Federation does not play a significant role in the fate of the dollar.
    2. Today, the PRC is unprofitable for the dollar to lose its status as the leading world currency, but the aggressive US policy is forcing it to prepare an alternative infrastructure for the global financial system based on the dollar.
    3. The share of world settlements in euros and renminbi is incomparably small with settlements in dollars, moreover, the SWIFT system is controlled by the United States.
    4. The global trend towards digitalization of everything and everyone, including banknotes and the dollar in particular, and, accordingly, the payment system.
    5. In the first place is not the production of material values, but the possession of scientific knowledge and technologies.
    6. The PRC ranks first in the world in terms of the number of graduates of technical universities and registration of patents.
    7. According to the totality of the data, three world centers are being formed - the PRC-EU-USA, and therefore three world currencies, which predetermines their competition.