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China Ready to Talk Asian Monetary Fund to Cut Dollar Dependence, Malaysia Says
5.4.2023
An idea to establish an Asian Monetary Fund has caught the attention of the Chinese leadership, the head of the Malaysian government revealed. The prime minister believes there is no reason for his country, which is hurting from a strong U.S. dollar, to remain dependent on the greenback. Malaysia...
Malaysia enlists China to help end USD dependence for trade
5.4.2023
More proposals and currency concepts are emerging as Asia ramps up its efforts to distance itself from U.S. dollar hegemony
ASEAN Countries Take Steps to Reduce Reliance on US Dollar for Trade Settlements
4.4.2023
The finance ministers and central bank governors of the Association of Southeast Asian Nations (ASEAN) are exploring ways to decrease their countries’ dependence on the U.S. dollar and promote the use of local currencies in trade settlements. “We must remember the sanctions imposed...
India to Facilitate International Settlements in Rupees to Reduce Dependence on the US Dollar
3.4.2023
The government of India has announced that it will facilitate the settlement of international transactions using its national currency, the rupee. As part of its foreign trading policy framework implemented on April 1, the country introduced this measure to facilitate payments for countries...
Latam Common Currency to Focus on Settlements Among Mercosur and BRICS Countries
25.1.2023
President of Brazil Luis Inacio Lula Da Silva clarified the scope and reach of the common currency that Brazil and Argentina are studying to issue in Latam. Lula Da Silva clarified that he believed this currency would be used to settle cross-border payments between the two countries and also...
Sberbank Analyst’s Editorial Delves Into the ‘Tremendous Potential’ of a BRICS Reserve Currency Fueling De-Dollarization
7.1.2023
During the last month, Russia’s ruble has dropped 16.48% against the U.S. dollar as energy and commodity prices have slowed over the last few weeks. Russia’s central bank revealed two weeks ago that it is further distancing itself from U.S. dollar dependence by purchasing the Chinese yuan...
Putin Calls for International Settlements Based on Blockchain and Digital Currencies
27.11.2022
Russian President Vladimir Putin believes a new system for international money transfers is needed to reduce dependence on big banks and third parties. He is convinced that cross-border payments relying on digital currency and distributed ledger technology will be “much more convenient.” Russia’s...
Report: China Suspected of Stockpiling Gold to ‘Cut Greenback Dependence’
22.11.2022
During the first week of November, the World Gold Council’s (WGC) report that covered last quarter’s global gold demand noted that central banks worldwide purchased close to 400 tons of gold in Q3 2022. The study highlighted that it was the “most on record,” and the WGC researchers also...
Report: BRICS Countries Told to Consider Countering the Dollar’s Global Hegemony
22.5.2022
Chinese experts have called on leaders of BRICS (Brazil, Russia, India, China and South Africa) countries to consider countering the dollar, whose global hegemony is thought to be abusive. Still, the experts concede that any attempt to diminish the dollar’s dominance will take time. BRICS...
Reduce Your Website’s Environmental Impact With a Carbon Budget
6.12.2021
As I write this, world leaders are gathering in Glasgow for COP26, the international climate change conference, in the attempt to halt (or at least slow down) catastrophic climate change by pledging to end their countries’ dependence on fossil fuels. …
Russia Considers Partially Replacing Dollar Reserves With Digital Assets in Future
20.10.2021
Amid ongoing sanctions, the government of Russia has been working to limit the country’s dependence on the U.S. dollar. The Ministry of Foreign Affairs now says it’s possible to partially replace the greenback in currency reserves and trade settlements with other currencies and even...
Warren Buffett Shifts Funds From US Amid Inflation Fears, Bitcoin’s New All-Time High Expected
1.9.2020
Warren Buffett has made another major investment shift, one that reduces Berkshire Hathaway’s dependence on the U.S. economy. This news followed the Federal Reserve’s policy announcement to “push up inflation,” which is seen as bullish for bitcoin, with some predicting that...
Russia and China De-dollarization Approaching ‘Breakthrough Moment’
20.8.2020
China and Russia are collaborating to reduce their dependence on the U.S. dollar. Trade settlements in USD between the two countries have fallen below 50% for the first time. De-dollarization in Russia and China The dollar’s share of trade between Russia and China was only 46% of settlements...
Chinese Steelmakers Using Blockchain to Break Dollar Dependence
18.8.2020
Chinese firms could look to end their dollar dependence in international trade deals using blockchain technology – with the nation’s steel industry looking to purchase raw materials in Chinese fiat RMB rather than the American greenback.
Per a report from China Economic Net, an increasing number...
Bahamas to Release Fiat Digital Currency to Counter Cash Dependence
26.10.2019
The Bahamas’ central bank is planning to release a national fiat digital currency to ensure the economy’s resilience in the event of a natural disaster