De-dollarization accelerates as China's RMB soars past Euro, Yen

Video: De-dollarization accelerates as China's RMB soars past Euro, Yen; China builds new financial system 隨著中國人民幣兌歐元、日圓匯率飆升，去美元化進程加速；中國建構新金融體系

https://en.m.wikipedia.org/wiki/National_debt_of_the_United_States#/media/File:National_debt_of_the_United_States.webp
https://www.scmp.com/economy/economic-indicators/article/3272194/global-use-chinas-yuan-sharply-beating-pound-and-yen-internationalisation-index
https://asiahouse.org/research_posts/the-renminbi-overtakes-the-euro-as-a-trade-settlement-currency-as-its-use-in-global-trade-finance-accelerates/
https://www.bloomberg.com/opinion/articles/2023-12-07/yuan-shows-some-muscle-increases-share-of-global-trade

Worldwide adoption of China's currency, the renminbi (RMB), is gaining steam as the de-dollarization push takes hold across the non-G7 countries.

Two macro factors are accelerating the growth of the RMB in place of the US dollar as the preferred currency for trading and settlements. The economic sanctions against Russia, which froze and then seized billions of dollars of Russian USD reserves held in custody in Western banks, are forcing countries and companies to de-risk by moving their reserves from SWIFT-associated financial institutions. Another crucial factor is the high US interest rates, which are sucking in hundreds of billions of dollars from global accounts to feed huge and growing fiscal deficits.

High US government borrowing causes USD to be drained from the global system. Ironically, this causes USD to gain in value outside the US, while feeding inflation and reducing the dollar's strength inside the country.

Simply by moving its USD and Euro reserves from US and European banks to Chinese-based institutions, Chinese banks enjoy the best of all worlds: they receive billions of USD and Euro every day through trading surpluses, and can then lend those foreign currencies and create assets and economic activity on their own balance sheets. Analysis of Chinese banking and lending data confirm explosive growth in Chinese lending abroad, in both RMB and USD.

隨著非七國集團國家的去美元化進程不斷推進，中國貨幣人民幣 (RMB) 在全球範圍內的使用正在加速。

有兩個宏觀因素正在加速人民幣取代美元成為交易和結算首選貨幣的進程。 對俄羅斯的經濟制裁凍結並扣押了存放在西方銀行的數十億美元的俄羅斯美元儲備，迫使各國和企業透過將其儲備從 SWIFT 關聯金融機構轉移來降低風險。 另一個關鍵因素是美國的高利率，它從全球帳戶中吸走數千億美元來填補巨額且不斷增長的財政赤字。

美國政府的高舉債導緻美元從全球體系中流失。 諷刺的是，這導緻美元在美國境外升值，同時加劇通貨膨脹並削弱美元在國內的強勢。

只需將美元和歐元儲備從美國和歐洲銀行轉移到中國的機構，中國的銀行就可以享受到世界上最好的好處：它們每天透過貿易盈餘獲得數十億美元和歐元，然後可以藉出這些外幣並創造資產負債表上的資產和經濟活動。 對中國銀行業和貸款數據的分析證實，中國的人民幣和美元海外貸款爆炸性成長.