China's strategic objective is not to replace the US dollar globally, but to build a sufficiently large financial system that provides countries with a genuine alternative, particularly in regions where yuan adoption is already underway, infrastructure loans have been extended, oil trading in yuan is beginning, and gold reserves are accumulating as a hedge against dollar dependency.
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China's Real Goal: A Genuine Choice, Not Dollar ReplacementHinzugefügt:
China does not need to replace the dollar globally.
>> [music] >> It only needs to build a system large enough to give the world a genuine choice, a functioning alternative, one that works for the countries that matter most to China's strategy.
The nations currently using CIPS are not in Europe or North America. They are in the regions where yuan adoption is already underway, where infrastructure loans have been taken, where oil is [music] beginning to trade in yuan, where gold reserves are accumulating as a hedge against the dollar.
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