Can Chinese currency yuan replace the US dollar?

[bayiajaib]

it will be big competition if yuan will replace dollar.
US government will have many strategy to defend their currency.
So I think Not easy yuan will replace dollar.
Dollar is more popular and become standard currency in global.
China is the big companies that dominant in industry.
So, very interesting to see this competition.

[Egg_burger]

As the world slowly reduces it's dependency on oil, the US will gradually over time loose it's strong hold. Time at the top is limited as we can see from history.
The fact that you can only buy Oil (energy) with USD is what keeps it as the reserve currency.
It will likely be either the Yaun, or a new form of global currency eventually.

[Fenix]

China will constantly try to supplant the dollar or any other foreign currency. It is a normal and natural process. The struggle for the dominance of their own currency occurs in all states. But the outcome of this struggle directly depends on the state of their economies, territory, population, availability of natural resources and other factors. In this regard, China has many advantages over the majority of states. Economic, trade and financial wars between China and the US have been going on for a long time. Who will win here and who will oust whom, we cannot know. These wars will continue for a long time to come, with varying success.

[Noverteno]

For the Chinese yuan to displace the dollar, something terrible needs to happen to the US economy. But so far this is not planned. And the economic and trade war has been going on between these two superpowers for a long time. It is quite possible that it will not be in favor of the United States, but in any case it is a lengthy process.

[Istiak]

Maybe one day but this can not be possible now. The PPP of the USD is indeed decreasing due to inflation and the reduction of USD in global trade but the USD still holds the economy. This petrodollar is the basis of global trade so to replace the USD we need to replace the USA from the number one position. This can be done in only one way and that is the destruction of the USA.

[anshor1]

Maybe one day but this can not be possible now. The PPP of the USD is indeed decreasing due to inflation and the reduction of USD in global trade but the USD still holds the economy. This petrodollar is the basis of global trade so to replace the USD we need to replace the USA from the number one position. This can be done in only one way and that is the destruction of the USA.

Yes, I also believe one it will happen, yuan will replace the US dollar.
China is one of the biggest economic of the world, but we should think about US government. they will keep their USD.
But anything can happen at the economic world.
Let's see what happen at the next.

[Senin]

It is no secret that there is a struggle between the US and China for world domination of their economic systems, which is more manifested in the form of a trade war. Therefore, the displacement of one of the currencies, the dollar or the yuan, will be a reflection of this global confrontation between the two superpowers. I'm not going to predict which of them will win yet. It depends on many factors, and almost any of them can be decisive in this matter.

[Speaker]

I won't say anything about domination, but the fact that the yuan will take its piece of the pie and force the dollar to reckon with it is a fact.

[Alcor]

I won't say anything about domination, but the fact that the yuan will take its piece of the pie and force the dollar to reckon with it is a fact.

The economic and trade confrontation between China and the United States has been going on for a long time. In this regard, China seeks to strengthen the position of the yuan both in the world and in its region. I recently saw information that the Chinese government has instructed banks to prepare to dump the dollar. It is impossible to say unequivocally who will emerge victorious in this war. The yuan has fallen significantly in recent years. Russia held part of its reserves in yuan and suffered significant losses.

[Evgenklm]

although China is now a widely developed economic state, but replacing the dollar is a big word... it is possible to convince people with some kind of terminology like crypto-yuan, then there are chances, and it will be extremely difficult to replace the dollar with the yuan

[TopT3ns]

China has not been able to replace or beat the dollar because until now the strength of the dollar is still dominant and many use the dollar as legal payment in many countries, it may be different when the Chinese currency has been widely used in many countries, it has the potential to beat the dollar.

[I-Bit]

I think it is difficult to change dollar domination although China has a stronger economy level in the future. Dollar will remain the global currency and its domination won't be replaced by others. Moreover, not many countries in the world are ready to use yuan as the most used money.