Examples of dollarization in major countries in the world
Iran is a big country in the Middle East, but in recent years, Iran has been suppressed by the United States, and the sanctions against Iran have been intensified, which has had a great economic impact on Iran.
It is precisely because the United States has been suppressing and sanctioning Iran that Iran has been angered and directly announced that it wants to dollarize, instead of replacing the dollar with RMB and completely dollarizing it.
In addition, major countries in the world began to avoid the dollar settlement mechanism, and many countries avoided the end of the dollar and adopted the euro or RMB settlement.
At present, China, Russian, Iranian, French, German, Indian and other major countries are moving towards dollarization, and they all want to avoid the dollar and avoid being dragged down by the United States, which has accelerated the global dollarization.
Why dollarization?
In fact, there must be a reason why major countries in the world adopt dollarization. It is precisely because of what the United States has done to major countries in the world that everyone is dissatisfied.
First, the hegemonic position of the United States has gradually come to an end and its hegemonic position has been shaken. Other countries should start looking for strong supporters.
Second, the American economy is declining, and the American economy is not growing as fast as before. Due to the economic downturn in the United States, the status of the US dollar has also been shaken, and it is normal for major countries to reject the US dollar.
Third: major countries have had enough of American control. For decades, many countries want to get rid of the clutches of the United States and do not want to pay protection fees to the United States every year. Since someone has taken the lead in dollarization, more countries will join the dollarization queue.
Fourth, the United States is now in decline. With the rise of China, many countries are more willing to make friends with China and be enemies with the United States. Since you are the enemy, of course, you must reject everything from the enemy. De-dollarization is the most important step.
Will the world accelerate the dollarization process?
The answer is yes.
It is an inevitable trend and an indisputable fact that major countries in the world will accelerate the process of dollarization.
Judging from the current data, 37 countries around the world have started to de-dollarize, and some de-dollarization schemes are being proposed, among which the de-dollarization of Iran, Turkey, Russia and other countries is very clear. In addition, Qatar, United Arab Emirates, Bahrain and Egypt are also accelerating the dollarization process.
It is believed that with the decline of American economy, the vacillation of American hegemonic position and the decline of American international influence, these are the catalysts for dollarization of major countries in the world.
After decades of efforts and rapid development, China has now become the second largest economy in the world, second only to the United States. It is precisely because of the rapid development of our country that the influence of the RMB in the world is constantly improving, and the RMB is gradually entering internationalization, so that more countries can accept the RMB.
In the future, China's economy will continue to develop steadily, while the American economy will encounter bottlenecks, which will lead to the polarization of the US dollar and RMB. The influence of the US dollar will continue to decline, the de-dollarization will accelerate, and the international influence of the RMB will gradually increase and gradually become an international currency. In the future, RMB has great potential and will be recognized by more and more countries.