Moneymoneyrcwrt

Wed Jan 2, 2019, 08:04 PM

Top 5 Countries Opting To Ditch US Dollar & The Reasons Behind Their Move


Published time: 2 Jan, 2019 05:18

The past year was full of events that inevitably split the global geopolitical space into two camps: those who still support using US currency as a universal financial tool, and those who are turning their back on the greenback.

Global tensions caused by economic sanctions and trade conflicts triggered by Washington have forced targeted countries to take a fresh look at alternative payment systems currently dominated by the US dollar.

China

The ongoing trade conflict between the United States and China, as well as sanctions against Beijing's biggest trading partners have forced China to take steps towards relieving the dollar dependence of the world's second-largest economy.

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India

Ranked the world's sixth-largest economy, India is one of the biggest merchandise importers. It's not surprising that the country is directly affected by most global geopolitical conflicts and is significantly impacted by sanctions applied to its trading partners.

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Turkey

Earlier this year, Turkish President Recep Tayyip Erdogan announced plans to end the US dollar monopoly via a new policy that is aimed at non-dollar trading with the country's international partners. Later, Turkey's leader announced that Ankara is preparing to conduct trade through national currencies with China, Russia and Ukraine. Turkey also discussed a possible replacement of the US dollar with national currencies in trade transactions with Iran.

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https://www.rt.com/business/447915-top-states-ditching-dollar/

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Reply Top 5 Countries Opting To Ditch US Dollar & The Reasons Behind Their Move (Original post)
RCW2014 Jan 2 OP
rahtruelies Jan 2 #1
RCW2014 Jan 2 #2

Response to RCW2014 (Original post)

Wed Jan 2, 2019, 08:16 PM

1. hmmmmmm, USA should ditch China and India imports to include H1B's..................

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Response to rahtruelies (Reply #1)

Wed Jan 2, 2019, 08:18 PM

2. Yeah, lets try that and see how that would work out for us...

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