Society: Developing countries to the US dollar are conducive to the internationalizati

Singers: Sing Tao Daily

Sing Tao Society

Global de -US dollar has a major actions, and Malaysia Prime Minister Anwar proposes to establish the Asian Monetary Fund to reduce its dependence on the US dollar.In addition to Asia, Brazil and Argentina have announced the establishment of Latin American common currencies at the beginning of the year, and the BRICS organizations are also studying the establishment of a BRICS trading system.Developing countries have promoted the absence of the US dollar this year because the US actions threatened their economy and national security last year.The acceleration of global de -US dollarization will benefit the internationalization of RMB. As the largest offshore center of RMB, Hong Kong needs to seize the opportunity to enhance Hong Kong's international financial center status.

Midea frozen Russian assets awaken many countries

Anhua recently revealed that when attending the Boao Forum for Asia at the end of last month, he proposed to the Chinese President Xi Jinping to set up an Asian Monetary Fund to reduce the relying on the US dollar and the International Monetary Fund.Discussing that the trade settlement of the two countries will use RMB and Malaysia to replace the US dollar.In addition, the Asian Secretary of Finance and the central bank governor at the end of last month, they agreed that when member states, when cross -border trade and investment, they strengthened the use of local currencies and reducing the US dollar to better cope with the global crisis.India also actively went to the US dollar. Last month, it was announced that trade settlement with Malaysia adopted the Indian rupee. It also approved the 18 national central banks including Tanzania and Kenya to make settlement payment with rupees.

In addition to Asia, Brazil and Argentina in South America announced the establishment of a common currency at the beginning of the year in order to promote the trade in the region and reduce the US dollar. Brazil and China also reached an agreement at the end of last month.Or Brazil's Lial; another RMB surpassed the euro at the end of last year and became the second largest reserve currency of the Brazilian central bank.

In addition, it is founded by China, Russia, Brazil, India, and South Africa. It includes BRICS organizations in Asia, Africa, and South American leaders.Submit the BRICS Summit in August.

Different regions around the world actively promote the US dollar. This was a significant interest rate hike last year, which seriously crack down on other countries' economies.The financial market has crashed almost.Multi -nations fully realize that the US interest rate and the US dollar policy often use neighbors as a knife hanging on the head.

Secondly, the United States sanctioned Russia last year, using the US dollar as a weapon, forbid Russia from using the US dollar, and the Russian international settlement system SWIFT, and frozen Russia's US dollar assets, making many countries realize that it holds the US dollar and depends on the US dollar as a transaction.The potential risk of tools, unless it is 100 % ordered to be ordered in the United States, once conflicts occur, if the United States uses US dollar sniper, it will hit national security.

Regardless of the risk of economic collapse or avoiding national security from being subject to the United States, many countries have accelerated the US dollar and reducing the US dollar.This global general trend will have two important impacts.

It will become a major opportunity for development in Hong Kong

One of them, the impact of the US dollar to the United States is far -reaching.The promotion of the US dollar to the US dollar will reduce the U.S. dollar, which is not good for the value of the US assets and impacts the US bond market.France, Saudi Arabia, Israel and other countries have sold U.S. Treasury bonds last year. Japan and China, which holds the largest US debt, also reduced their holdings of 224.5 billion and US $ 173.2 billion last year.What matters worse is that due to the bank crisis in the United States, foreign central banks reduced their holdings of US $ 76 billion in US dollars within a week at the end of last month, a new high in 9 years.

In addition, the US dollar is an important tool for the United States to dominate the global financial policy and consolidate the US international status. Dealing in the US dollar will also weaken the US's ability to dominate the global economy and finance, and even weaken the political trust in the United States.

Second, the internationalization of the RMB will accelerate.While all countries go to the US dollar, they will increase the use of their own currencies for trade settlement. Since China is the largest trading country in more than 130 countries in the world, Brazil, Asia, and BRICS countries have proposed that they must use Renminbi or their domestic currencies as trade.For settlement, China also used the advantages of buyers. Last month, buying natural gas from France and buying iron ore from Australian companies in the middle of last year has begun to settle with RMB.Make trading tools.

As the world's largest offshore -shore center, Hong Kong must grasp the huge business opportunities of the global RMB flow, promote more foreign countries to settle in RMB trade in Hong Kong and attract them to invest in Hong Kong in Hong Kong. This will not only benefit the RMB InternationalIt is also a major opportunity for the development of the Hong Kong International Financial Center.