There was a claim that China want their currency which is yuan to replace the US dollar as the worlds global currency. That would give it more control over its economy. sometimes I just be wondering how this countries always push their own currency in the forefront ahead of other country, regarding to what China is saying about their yuan currency in trying to make it gain more value than US dollar. Base on your own opinion can that be possible?
Over the past few months, countries have slowly stepped away from using USD and wanted to trade in their currency or Yuan. Russia is currently doing the majority of its trades in the Yuan. Few African countries started holding their Forex reserves in the Yuan. BRICS is also looking to trade in their currency and wants to launch a new currency to counter USD effects.
It is very early to say that a currency will replace USD in the near future, but we might see this happening after a few decades I think.