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Showing posts with the label partnerships

The End of the US Dollar Reserve System: What It Could Mean for the World Economy

By Matthew Hayward  In recent years, the global economic landscape has seen a significant shift as countries look beyond traditional alliances and forge new partnerships. These partnerships have had far-reaching implications, with some suggesting that they could signal the beginning of a new world order. One such partnership that has caught the attention of many is the recent collaboration between China and France. According to reports, companies from both countries have completed the first cross-border yuan settlement of an LNG trade. This move is significant because it signifies the growing importance of China's currency, the yuan, in global trade. Another significant development in the world of international trade is the recent agreement between Brazil and China to ditch the US dollar in their trade deals. This agreement marks a major shift from the US dollar as the dominant currency in global trade. These developments are not limited to China and its partners. Saudi Arabia and ...