Can Chinese currency yuan replace the US dollar?

[Quantum X]

Seeing this Chinese currency as one of the progressive does not mean it can replace the dollar but it could be possible. Yet this possibility will not come as fast as what we can imagine because in order for this to happen, first, China need to dominate the world. Perhaps.

[atjiat]

Seeing this Chinese currency as one of the progressive does not mean it can replace the dollar but it could be possible. Yet this possibility will not come as fast as what we can imagine because in order for this to happen, first, China need to dominate the world. Perhaps.

I also agree with your opinion that before the yuan replaces the dollar, China must be replaced by the US all over the world. That is, to dominate the whole world, and this is very difficult to do today, since we are talking not only about economic, but also in military-political superiority.

[Abubakar56]

China are really trying in terms of everything and they are competing with China but I don't think yuan can overtake us dollar, usd is already a generally accepted currency all over d world.

[Callisto]

I don't think the dollar will replace the yuan. Although China is the first economy in the world, they still fail to do this, the dollar is in everyone's minds, this piece of paper has accumulated its stability for centuries.

[Fenix]

So far, I am quite confident that the Chinese yuan will strengthen and gradually displace the dollar, especially in the Pacific region. Trade competition and even a trade war between China and the United States will only intensify. However, while the dollar will rule this world for a long time to come. This process will be lengthy and will occur with varying degrees of success.
Recently, Russia has been buying yuan, hoping to avoid international sanctions, and has already invested about $ 8 billion in the yuan. The situation here will constantly change.

[rizqillah]

I don't think the dollar will replace the yuan. Although China is the first economy in the world, they still fail to do this, the dollar is in everyone's minds, this piece of paper has accumulated its stability for centuries.

In my prediction, yuan cannot replace dollars at the coming future. Chinese is bigger economic than USA. But we all.jnow dollar is more popular and I think It is really difficult to change habits. Everyone at the world have known about dollar, but not know about yuan.

[Freemind]

The yuan has been threatening the dollar for a long time. That is why it would not seem strange to me that in the near future it surpasses the dollar. Inflation is high in both cases, yes, but it has been much higher in dollars for years, while the US department of economics does not stop printing dollars. The US authorities know that the privileged position of the dollar will fall sooner or later.

[TomPluz]

The lack of trust with the Chinese government as it continues to do many stupid things especially in regard to territorial claims in the Asian region can be the big hindrance to its money becoming the one replacing the prominence of the USA Dollar. China has a goal bigger than itself and that is global domination, and they know that once they can dominate the global economy they can command many thigns into their hands, but this will never come easy considering the chaotic history of China and the developing resistance of many countries into its influence. Now, I am predicting things if there will be a currency to replace the dollar as the international commerce money it will not be the yuan or its equivalent CBDC.

[therozaq]

To earn more control over its economy, China intends on replacing the USD to yuan as the global currency. Since China's economic growth due to the cheap exports to the US, international trade and gross domestic product share of China increased to around 10%. This caused some conflict between China and the US.

With trade soaring, yuan's eminence grew and in August 2015 it became the fourth most frequented currency globally, it left behind its ranking in the 12th position within three years, surpassing Japanese yen, Canadian loonie and the Australian dollar. China has made it far easier to trade the yuan in foreign exchange markets.

It’s not the trade that makes USD the world’s reserve currency but the fact that there’s a sense of trust in the US economy. The transparency of the market and stability of its monetary policy are two important factors as well. Hence, it is not possible to eradicate the use of the dollar, even though it may be declined.

Although Chinese is the biggest economic and trading, I think  It is not easy to replace the US dollar.  US dollar is most popular and has been used by trading value at the world.. But maybe crypto currency will replace fiat money, dollar, yuan and EURO
 . Let's see.

[tvplus006]

Seeing this Chinese currency as one of the progressive does not mean it can replace the dollar but it could be possible. Yet this possibility will not come as fast as what we can imagine because in order for this to happen, first, China need to dominate the world. Perhaps.

Given the fact that the Chinese government has already devalued its yuan several times in order to increase the competitiveness of products, it is unlikely that the yuan will be able to compete with the dollar in stability in the near future.

[Fivestar4everMVP]

Definitely not possible, atleast, not anytime soon, It might happen it the future cus the world we living right now can not be predicted, but the fact remains that it will be very difficult for Chinese yuan currency to over power the US dollars and become the world currency, it's near impossible to be fare on the Chinese yuan, the reputation the US dollars has built already is yet to be seen in the Chinese yuan and this is one of the reasons why I think it's near impossible for it to take over us dollar as the world currency.

[Octoalts]

I think it will be difficult, because the dollar is very popular and widely used by almost all countries in the world.  Indeed, China is a large country and the Yuan is also developing.  However, to replace the dollar is not an easy thing.

[dolcefarniente]

In order for the Chinese currency to be able to replace the US dollar in world settlements, it is necessary that all major countries participating in world trade agree to this replacement. However, we understand that the United States, being the main world trade partner, will resist in every possible way and use its influence, including political.

[UNIVERSE]

We don't know what will happen in the future. However, if we are seeing the condition right now, this is still far away. And USD still becomes dominance in the world currency. However, we also know that China is now building that power to compete the US

[Arendra]

As we all know that the dollar is a very strong currency, I believe it will not be easy to be defeated by the digital yuan. it will take a long time to compete with the dollar.