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China hints at its asymmetric warfare system aimed at dethroning US dollar

For Beijing, it’s not so much about replacing the greenback within the current system but creating an entirely separate alternative

Barely a day goes by without a headline about the Chinese yuan gaining further traction in global trade. As de-dollarization gains steam, the currency of the world’s second largest economy has been thrust into the spotlight.

The dollar paradigm assumes any serious currency must be supported by a framework of full financial liberalization and open and deep capital markets. The greenback’s extensive liquidity is also underpinned by massive US deficits – dollars flowing out to the world – making one wonder if the system as we know it could even function if the world’s chief currency didn’t belong to a country with chronic trade deficits. ........more below

https://www.rt.com/business/590794-yuan-dollar-global-dominance/

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