The Chinese currency yuan shows a steady upward trend in settlements through the global payment system SWIFT. This follows from an analysis of data from the financial system itself..
In March 2024 year, the share of the Chinese yuan in international payments through the SWIFT system reached a record level. Now she is already 4,69 percent. However, for now the yuan still remains in fourth place in the settlement system.
The US dollar is still in the lead. It accounts for 47,37 interest in international payments through the mentioned global payment system.
The euro is in second place, whose share is 21,93 percent. Finally, in third place is the British pound sterling. Its indicator is 6,57 percent of international payments through the global payments system.
Interestingly, the yuan has already overtaken the British currency in trade payments. The gradual increase in demand for the Chinese currency is associated with its stability and the desire of a number of countries around the world to gradually abandon the use of the dollar in payments.
For the United States, the ongoing de-dollarization of international trade settlements poses enormous risks.. After all, the economic and political dominance of the United States in the modern world is largely based on the role of the dollar. The American “printing press” allows you to dictate terms to other countries, introduce various sanctions, therefore, de-dollarization for many states is becoming one of the primary tasks in the direction of ensuring genuine economic sovereignty.
