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Amidst a global move towards de-dollarization and increasing demand for yuan-based transactions, the efforts of Chinese policymakers to prop up their currency have increasingly gained traction.
It's not just due to the West's sanctions against Russia. Other reasons include US monetary policies, a strong USD, and global trade diversification.
Joe Biden's recent panegyric on "Bidenomics" is detached from reality given that the train of the US economy is moving into a dead end, US Professor of Economics and Politics Jack Rasmus told Sputnik.
Along with India’s recent use of the Chinese currency to buy Russian oil, Argentina’s move is an example of the global economy\'s de-dollarization.
"If tinpot dictators want to wage war, get sanctioned and then need alternate payment means, that's signals Dollar dominance, not weakness..." Robin Brooks said.