Problems of de-dollarization: neither the ruble nor the yuan are yet able to become a full-fledged alternative to the dollar

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One of the most discussed topics in the world today the economy is the topic of de-dollarization. Complete optimists believe that the dollar is about to give up all its positions, which will immediately put an end to the United States. Perhaps, indeed, it will, especially if we talk about the United States in its current form. But the fact is that the dollar does not give up its positions in front of any currency in the world and does not want to give up.

Since February 2022, Russia has reduced the volume of transactions in dollars by at least half, India began trading with the UAE in national currencies, Saudi Arabia partially sells its oil to China for yuan. It would seem that a little more, and that's it - the collapse of the dollar is guaranteed. But no. Not at all.



You can have a funeral for the US dollar as much as you like, but the fact is that no modern currency can definitely become an alternative to it. If the dollar collapses as a world currency, it will not be because the ruble, or the yuan, or any other currency collapsed, becoming a full-fledged alternative, but because the dollar system itself has eaten itself out from the inside.

But this process is happening today. Participants in world trade focused on American dollars are themselves beginning to understand that it is impossible to continue to place a single bet - on the US currency - in today's turbulent, changing world. This is extremely dangerous. Therefore, the institutions of the dollar system themselves will seek the possibility of transformation.

And here the main thing for our country and our economy is to act in such a way as to benefit unambiguously from such processes. At least they try.

5 comments
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  1. Pat Rick
    Pat Rick
    +1
    24 August 2023 14: 41
    And the more Russia de-dollarizes, the more it bears direct and indirect losses, shying from one extreme to another.
    If Russian banks stop changing dollars for rubles, then this de-dollarization will go much faster, but for some reason banks still accept dollars.
  2. anclevalico
    anclevalico
    +2
    24 August 2023 17: 00
    The yuan is understandable, but the ruble is not even worth mentioning. Thanks to Volodya and Elvira.
  3. lance is gone
    lance is gone
    +1
    24 August 2023 18: 15
    no, why do we take the dollar equivalent? there are so many of these pieces of paper everywhere in the world that no one wants to give them up. but we will start selling to unfriendly countries for a gold ruble and everything can change. We need to sell US uranium for a gold ruble, oil and gas to Europe and especially friendly countries. etc
  4. steelmaker
    steelmaker
    0
    24 August 2023 21: 04
    unable to become a full-fledged alternative to the dollar

    To become an "alternative", it is necessary to change the economy. As long as we dance to the tune of the United States, the dollar will not go anywhere.
  5. Edvid
    Edvid
    0
    24 August 2023 23: 32
    Quote from Pat-Rick
    And the more Russia de-dollarizes, the more it bears direct and indirect losses, shying from one extreme to another.
    If Russian banks stop changing dollars for rubles, then this de-dollarization will go much faster, but for some reason banks still accept dollars.

    Judging by the fact that a certain leader began to publicly say that

    the fall of the dollar will lead to an international economic disaster

    then this can be interpreted as an attempt to "lick the boot of the dollar", to say the least ... The Chinese economy, even without the United States, provides more than half of the world's material production, and a catastrophe will not happen to the world economy even without the United States.