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Could China's Currency Be The New World Reserve? | Economics Explained
Since the end of World War 2 the US dollar has been world reserve currency, this means international transactions are overwhelmingly done in US dollars. This gives the US some key economic advantages. Naturally China wants to make its currency the world reserve currency, and as the second largest economy it makes some sense.
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By Economics Explained
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Since the end of World War 2 the US dollar has been world reserve currency, this means international transactions are overwhelmingly done in US dollars. This gives the US some key economic advantages. Naturally China wants to make its currency the world reserve currency, and as the second largest economy it makes some sense.
Enjoyed this? Comment below! 💬
①Subscribe to Economics Explained on YouTube 👉 https://bit.ly/sub2ee
Learn more about your ad choices. Visit megaphone.fm/adchoices
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