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Author Topic: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar  (Read 1852 times)

Offline coingabbarmarket

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Researchers at a Chinese state-run think tank have proposed an Asia-wide digital currency in order to minimize the country's dependency on a dollar-based economy.

The views of researchers Liu Dongmin, Song Shuang, and Zhou Xuezhi from the Chinese Academy of Social Sciences (CASS) were published in a late September issue of the "World Affairs journal," which suggested the introduction of an "Asian yuan" token. The token would reduce Asia's dependency on the US dollar.


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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #1 on: October 17, 2022, 01:39:42 PM »
Actually it is not easy to shift the dollar, even though the dollar is no longer backed up by gold.

To reduce dependence on the dollar is actually easy, pay foreign debts in the national currency and reduce debt in the form of dollar payments, if the Asian Yuan can do that then I believe the dependence of the dollar will shift to the Asian Yuan currency.
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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #2 on: October 17, 2022, 04:58:24 PM »
I wouldn't touch any product created by the communist party. Why on earth do you think this Yuan is free from government intervention and better than the USD? I'd rather be dependent on a currency from a big democratic country than dependent on currency from a tyrannical government. Just use Bitcoin, gold coin, or silver coin, these are better than Yuan currency.
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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #3 on: October 25, 2022, 10:29:06 AM »
I wouldn't touch any product created by the communist party. Why on earth do you think this Yuan is free from government intervention and better than the USD? I'd rather be dependent on a currency from a big democratic country than dependent on currency from a tyrannical government. Just use Bitcoin, gold coin, or silver coin, these are better than Yuan currency.
I don't think that the choice between these coins is any problem. There was no yuan and there was no talk about it, and everyone perfectly solved their problems with the help of other currencies, more free and understandable.
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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #4 on: October 26, 2022, 12:24:09 AM »
China just wants to expand its influence in Asia to follow other countries economically, then territorially. e-CNY is a Chinese experiment, it is not widely accepted, it will not be able to compete with USD in the global economy. I'm not willing to use CNYT instead of USDT ^^
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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #5 on: October 26, 2022, 07:49:49 PM »
I don't think it's easy to sideline the USD with Asian Yuan. Whom they will ask to use Asian Yuan I know with most countries they have border issues and we all know they are dominating all of them with their power so it is only possible when they will have a good relationship with other Asian countries and their neighbors. The majority of the countries will keep using USD.

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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #6 on: October 27, 2022, 11:18:36 AM »
Actually it is not easy to shift the dollar, even though the dollar is no longer backed up by gold.

To reduce dependence on the dollar is actually easy, pay foreign debts in the national currency and reduce debt in the form of dollar payments, if the Asian Yuan can do that then I believe the dependence of the dollar will shift to the Asian Yuan currency.

Yeah, not easy to reduce dependency of US dollars, because dollar is most popular than other currency.
I think Chinese should have good improvement to create crypto currency to against dependency of dollar.
But It's just my opinion..
Maybe other has own suggestion what project that more good.
any idea ?
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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #6 on: October 27, 2022, 11:18:36 AM »


Offline Astra

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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #7 on: November 28, 2022, 06:05:17 AM »
China seems to be preparing, if not for war, then for confrontation with the United States. Recently, the Chinese government has been calling on Chinese government and commercial structures to withdraw their capital from other countries, and this may be a way to avoid freezing financial assets during a conflict, as happened with the Russian currency in foreign banks.
At the same time, it has long been predicted that China will create a regional stablecoin, that is, a regional CBDC to serve the Asian market, where China will be given a dominant position. Of course, the goal of such a digital or other currency will be to reduce dependence on the dollar. This is quite natural and logical.

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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #8 on: December 07, 2022, 06:21:57 PM »
The move was logical after China launched its digitized yuan. Many predicted that after that, China would want to introduce a regional digital currency in order to increase its influence in its region and at the same time weaken the influence of the dollar. We are seeing a continuation of the economic war between China and the United States, which has been going on for a long time.
Now the situation continues to change rapidly due to the ongoing Russian war in Ukraine and the periodic increase in tensions between China and Taiwan.
So far, China does not dare to enter into an open conflict from the United States, since this country is largely dependent on the technologies of the United States and Europe.

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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #9 on: December 08, 2022, 03:14:17 AM »


We should always remember that China has the big plan to replace the USA Dollar for international commerce transaction and thus make the USA as just another country and not anymore the big leader as it is now. And China is starting to exert its obvious influence in the Asian region primarily because this area is a major trading partner...so there is that possibility that those conducting business with China will not anymore be using the dollar but its "Asian Yuan" or whatever it will finally be called. This is the big goal of China and it is trying all it can to convince other countries to join its efforts to undermine USA.

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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #10 on: December 21, 2022, 08:56:27 AM »

The views of researchers Liu Dongmin, Song Shuang, and Zhou Xuezhi from the Chinese Academy of Social Sciences (CASS) were published in a late September issue of the "World Affairs journal," which suggested the introduction of an "Asian yuan" token. The token would reduce Asia's dependency on the US dollar.
There is no doubt that China will try to create a regional digital currency in order to try to push the dollar out of the Asia-Pacific region. This was predictable even when China tried to introduce its digital yuan. The trade war between China and the United States has been going on for a long time and the currency used in this is of great importance. In any case, such a regional currency will strengthen the role of China in the Asian region. Well, how it will all end, we do not know yet.

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Offline satpol_PP

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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #11 on: December 22, 2022, 07:40:08 AM »
Researchers at a Chinese state-run think tank have proposed an Asia-wide digital currency in order to minimize the country's dependency on a dollar-based economy.

The views of researchers Liu Dongmin, Song Shuang, and Zhou Xuezhi from the Chinese Academy of Social Sciences (CASS) were published in a late September issue of the "World Affairs journal," which suggested the introduction of an "Asian yuan" token. The token would reduce Asia's dependency on the US dollar.


Read More - https://www.coingabbar.com/en/crypto-currency-news-english/china-proposes-asian-yuan-reduce-dependency-us-dollar

Sounds good, If China will create Asian yuan to reduce dependency on the US dollar.
We should not depend and  always on the dollar.
Better Asian has other currency

Offline Senin

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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #12 on: December 22, 2023, 10:08:14 AM »
I don't think it's easy to sideline the USD with Asian Yuan. Whom they will ask to use Asian Yuan I know with most countries they have border issues and we all know they are dominating all of them with their power so it is only possible when they will have a good relationship with other Asian countries and their neighbors. The majority of the countries will keep using USD.
Under the pretext of liberation from the dependence of the dollar, China is simply imposing its yuan. But how will the yuan be better than the dollar? The US with its dollar is more of a democracy than China. And strengthening the financial and economic stability of a communist authoritarian state is not the best idea. Therefore, I personally would not want to use RMB instead of dollars.

Offline Callisto

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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #13 on: December 22, 2023, 08:55:11 PM »
The yuan can compete with the dollar, but replacement in the global monetary system requires economic stability, open markets and international agreements, which will take time.
This is a complex process, as the dollar has long-term stability and global trust. The implementation of such changes requires broad support from the global community. But still, everything is possible, nothing lasts forever, not even currency.

Offline Callisto

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Re: China Proposes an 'Asian Yuan' to Reduce Dependency on the US Dollar
« Reply #14 on: December 22, 2023, 09:04:37 PM »
I think that after the introduction of the digital yuan, there will be fluctuations in the market, because we all remember how the crypto world reacted to the ban on mining in China, this mechanism is no less important for the world and in any case there will be fluctuations in the market, so it is necessary to carefully conduct a thorough analysis of the situation when using volume transactions on the market.

 

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