East Asian countries should give more importance to the use of national and regional currencies against the desire of Russia and other states to free the world economy from the dollar. Former Malaysian Prime Minister Mahathir Mohamad opens Chinese newspaper Global Times.
According to him, in the foreseeable future, Asian countries should agree to use a single currency for foreign payments. The share of the dollar in the trade of the regional states should gradually decrease.
“Russia insists that trade be made in rubles in Russian currency. <…> Many countries now want to use their own currency. “For a long time, I have proposed a single currency that will only be used in the Association of Southeast Asian Nations region and Northeast Asian countries,” he said.
May 5, Chinese newspaper China Daily knowledgeableThat China’s refusal to conclude foreign trade deals in US dollars could have serious economic consequences for the US. This scenario risks becoming a precondition for the possible loss of the US’s leading role in the emerging world trade order.