One Way to Think of the ‘De-dollarisation’ Theme is as a Factor of Trade. Two Important Countries in Global Trade (Russia, with Natural Resources, and China, as the World’s Manufacturing Superpower) Want to Move Away From the Dollar
One way to think of the ‘de-dollarisation’ theme is as a factor of trade. Two important countries in global trade (Russia, with natural resources, and China, as the world’s manufacturing superpower) want to move away from the dollar.
Countries that trade with them will thus do more trade outside the dollar system (dollars and using SWIFT). Given most countries trade more with China than the US (picture, left) and nations like Russia, India, Brazil and Saudi Arabia, are going along, de-dollarisation will happen as a function of trade at least.