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    Current page location: Home > Answers > What if China abandons US dollars in foreign trading?
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    Mary Chang
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    What if China abandons US dollars in foreign trading?

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    • Time:2018-09-18 10:47:16
    What if China abandons US dollars in foreign trading?
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    Stella Qi
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    It can't abandon the US dollar because other countriesthat China trades with uses the dollar for their trade. China is taking baby steps with the petro Yuan which it has agreements with a half dozen countries to use for oil transactions. China can do this because China is the world's largest importer for oil.Maybe if the US dollarweakens to the point it is worthless, then a switch to the euro, yen, and or yuan may happen. The IMF also has started a pseudo currency made up of basket of currencirs called the SDR, Special Drawing Right, that could also be the world currency becsuse it would be tradeable with all world vurrencies.

    #1Floor 2018-09-18 11:25:45 Reply(0)
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