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The world’s financial dynamics are evolving at a rapid pace, favoring the rise of new currencies against the mighty US dollar. There was a time when the US dollar had no enemies, no credible foes to question its mettle. Now that the currency dynamics have evolved, the world is now witnessing a pool of new currencies giving stiff competition to the dollar. In such an instance, the Chinese Yuan is emerging as the ultimate challenger, blocking the US dollar from dominating the world currency narratives. Why is the yuan beating the US dollar down again and again? Let’s find out. Also Read: Shiba Inu Price Prediction: How $10K Could 3.5x and Make You a Whale by 2027 Is The US Dollar Collapse Under Works? Source: markets.businessinsider.com / AlexSava/ Getty Images The US dollar is experiencing one of its worst nightmares, the declining stature and valuation that continue to derail and hamper its prestige. Per Bravos Research, the US dollar’s purchasing power has tumbled and is no...

ASEAN nations are now looking forward to restricting Chinese imports. The ten-nation bloc is embracing this direction due to fears of overdependence on China for goods and services, which could impact the Chinese Yuan. The move is set to bolster regional industries and collectively check Chinese imports to evade overdependence and reliability fears, potentially affecting the Chinese Yuan’s stability. Also Read: Ripple: AI Predicts XRP’s Price After SEC Victory ASEAN to Curb Chinese Imports Source: orfonline.org ASEAN nations are tightening their stance on Chinese imports. They look forward to imposing specific trade barriers on Chinese imports as fears of over-dependence and reliability loom over their collective heads. The ten-nation bloc is currently strictly promoting its regional industries to strengthen its internal ties. ASEAN Trade Complaints and Export Growth Per SCMP, China has recorded 96 complaints concerning the trade restrictions. On Wednesday, the nation confirmed that it...

The SCO 2024 summit is currently being held in Kazakhstan and the 10 member countries are participating in the event. China is pushing for de-dollarization and is trying its best to convince other SCO countries to ditch the US dollar for trade. The Communist nation wants other developing countries to use local currencies for cross-border transactions and not the US dollar. Read here to know how many sectors in the US will be affected if SCO ditches the dollar for trade. Also Read: BRICS: Start of De-Dollarization, 52% Trade in China Settled in Yuan SCO is an abbreviation for Shanghai Cooperation Organization and was formed in 2001. The Eastern European country Belarus joined SCO in July 2024 and is now part of the grouping. Belarus was sanctioned by the European Union and therefore joined the SCO to protect its economy and promote local currencies and not the US dollar. Also Read: China Advances De-Dollarization Agenda At the SCO 2024 Summit SCO Summit 2024: 10 Countries Look To Tra...