GET RID OF THE DOLLAR! LOCAL CURRENCY TRADING has STARTED in ASEAN Countries.｜AsianQuicktake

Recent developments indicate that ASEAN countries are actively seeking to reduce their reliance on the US dollar and strengthen local currency settlements through increased cooperation. After concluding his visit to China, Malaysian Prime Minister Anwar Ibrahim mentioned that discussions had taken place with China regarding the establishment of the “Asian Currency Fund“ and negotiations for local currency settlements. During a meeting in Indonesia, ASEAN finance ministers advocated for reducing dependence on major currencies and announced plans to expand local currency trading systems. These statements and actions demonstrate the ASEAN countries’ pursuit of reduced reliance on the US dollar and their commitment to enhancing local currency settlements. Indonesia has taken the lead by initiating concrete measures to shift towards local currency settlements with countries such as China, Japan, Malaysia, and Thailand, with negotiations underway with South Korea. Publicly released data reveals that the total value of local currency transactions between Indonesia and these four countries has reached $950 million over the past two months, nearly doubling the previous figures, confirming the feasibility of these actions. These actions have garnered significant attention from the international community and media. It is widely believed that they reflect these countries’ dissatisfaction with US dollar hegemony and their desire for local currency settlements and regional currency cooperation. Given the US dollar’s dominant position in the global economy, any shifts in its usage can have substantial implications for international financial markets and the global economy. However, these actions by ASEAN countries may also yield positive impacts. By strengthening regional currency cooperation, these countries can enhance their financial stability and resilience against external risks. Simultaneously, promoting local currency settlements allows for reduced reliance on the US dollar, thereby improving their autonomy and creating better conditions for regional economic development. 💯TOP 3 Video Swiss Sells $36.4 billion U.S. Treasuries ▶ Africa Rejects US’ Blank Check ▶ China to Accelerate Dumping of Up to $800bn U.S. Debt ▶ ━━━━━━━━━━━━━━━━━━━━━ ✅ COPYRIGHT DISCLAIMER Asian Quicktake Doesn’t Fully Own Some of the Materials Compiled in Its Videos. It Belongs to People or Organizations Who Ought to Be Respected. If Used, It Falls Under the Following Provisions: Copyright Disclaimer Section 107 of the Copyright Act 1976. “Fair Use“ is Allowed for Purposes Such As Criticism, Comment, News Reporting, Teaching, Scholarships, and Research. ━━━━━━━━━━━━━━━━━━━━━ ✅ If You Are the Owner of the Materials Used in This Video, Let us Know in the Comments or Send a Email to me. We Will Follow Your Request Immediately. ━━━━━━━━━━━━━━━━━━━━━ ✅ FINANCIAL DISCLAIMER This Channel’s Content Should Not Be Interpreted or Construed As Financial Advice. We Are Not, and Do Not Claim to Be, an Attorney, Accountant, or Financial Advisor. This Channel’s Content is Not a Substitute for Financial Advice and is Solely for Entertainment Purposes.