> idea that a basket of foreign currencies or "BRIC+" will replace the dollar is absolutely not going to happen
No it'll be renminbi, with the euro, if they are lucky as a distant second place.
No it'll be renminbi, with the euro, if they are lucky as a distant second place.
That is kind of a first step. You know, actually being able to convert from one currency to another.
China is an exporting and manufacturing powerhouse. Something that is only accelerating. Don't get me wrong, china has a whole bunch of issues. but currently political instability kneecaping economic growth is not one of them.
Also China knows that unemployment means the end of their control. So they will do anything and everything to keep people gainfully employed. the USA less so, and we'll see if that works out for them.
Russia has a tiny economy based on war and oil.
Also Switzerland is easy to bully, as can be seen by the current US tariff regime.