Note also that a lot of global trade is now done settled in Yuan and its not going via SWIFT but via CIPS or mBridge.
The petrodollar is in decline and Trumps desperate wars of aggression are seeking to slow that decline, but that decline is based fundamentally and irreducibly upon the fact that China won the trade war and now dominates global trade.
Hormuz could prove to be the Suez moment end of petrodollar hegemony.
USA cannot compete with Chinas productive industry. You simply cannot accept that you have lost the trade war and so resort to brutal military aggression and supporting Zionist genocide and war crimes. Truly sad to see the USA stoop to such cowardly criminal amorality. It is clearly an empire in moral and economic decline.
Yes but increasingly irrelevant. USA has burned its bridges with many former allies already. Hard to see this trend being reversed now, sadly. Enjoy your last heady if chaotic days of global dominance. There will be decades, if not centuries, for reflection and humility.
Exactly- most nations have a trade deficit with China. This is a large part of how the US gained monetary hegemony when post WW2 USA was dominant as a manufacturer and most nations had a trade deficit with the US. Today China fills that role of dominating trade and manufactured goods and purchase of commodities. Paying in Yuan and receiving Yuan makes sense when China is your largest trade partner...as it is with 120 nations now.
Further analysis reveals that this increase is primarily driven by the intensive margin, reflecting higher transaction values among firms already utilising the renminbi. At firm level, renminbi invoicing remains highly concentrated among a small number of large firms and tends to be applied in a largely discrete manner, particularly for exports. These findings indicate that significant fixed costs may be a key factor limiting wider adoption of renminbi invoicing. See Berthou, A. and Schmidt, J., “The rise of renminbi invoicing: evidence from French firm-level data”, Unpublished manuscript, 2026.
Note also that a lot of global trade is now done settled in Yuan and its not going via SWIFT but via CIPS or mBridge.
The petrodollar is in decline and Trumps desperate wars of aggression are seeking to slow that decline, but that decline is based fundamentally and irreducibly upon the fact that China won the trade war and now dominates global trade.
Hormuz could prove to be the Suez moment end of petrodollar hegemony.
Any charts?
Helping an ally put down a rebellion of communist bandits is a totally just war and not agressive at all. It's tragic that Xi is making us do this.
USA cannot compete with Chinas productive industry.
You simply cannot accept that you have lost the trade war and so resort to brutal military aggression and supporting Zionist genocide and war crimes.
Truly sad to see the USA stoop to such cowardly criminal amorality.
It is clearly an empire in moral and economic decline.
Just think, the entire history of the PRC will be contained within the lifespan of Donald Trump.
Lol you cling to these cute strawman memes as you drift toward the abyss of irrelevance.
More like the decline and fall of US empire will be contained within the lifetime of gameshow host DJ Trump.
The US military is still relevant, I assure you. Bridge Day is coming for someone.
Yes but increasingly irrelevant.
USA has burned its bridges with many former allies already.
Hard to see this trend being reversed now, sadly.
Enjoy your last heady if chaotic days of global dominance.
There will be decades, if not centuries, for reflection and humility.
Socialist PRC-aligned governments were never allies.
I don't understand why France would invoice 30% of exports in Renminbi.
To pay for imports?
Exactly- most nations have a trade deficit with China.
This is a large part of how the US gained monetary hegemony when post WW2 USA was dominant as a manufacturer and most nations had a trade deficit with the US.
Today China fills that role of dominating trade and manufactured goods and purchase of commodities.
Paying in Yuan and receiving Yuan makes sense when China is your largest trade partner...as it is with 120 nations now.
'China is the world’s largest trading nation and the top trading partner for more than 120 countries.'
https://www.thepress.co.nz/rural/361006236/chinas-kiwi-food-pipeline
The renminbi may be gaining share, but trust and capital freedom still matter. The race isn't over.