Since recently lots of new mention that the US Federal Reserve will increase the interest which definitely will make US dollar stronger. This situation may cause the shortage of US dollar in the global money market which forces lots of countries think about using other money especially the countries in ASEAN. I think if they use renminbi as the trade and investment money, in the global market, it will weaken the position of US dollars. In tourism, this change may lower the costs for Chinese visitors so that more Chinese will visit those countries.
Thursday, September 3, 2015
Indonesia proposes broader use of renminbi in ASEAN
http://english.astroawani.com/business-news/indonesia-proposes-broader-use-renminbi-asean-70941
Since recently lots of new mention that the US Federal Reserve will increase the interest which definitely will make US dollar stronger. This situation may cause the shortage of US dollar in the global money market which forces lots of countries think about using other money especially the countries in ASEAN. I think if they use renminbi as the trade and investment money, in the global market, it will weaken the position of US dollars. In tourism, this change may lower the costs for Chinese visitors so that more Chinese will visit those countries.
Since recently lots of new mention that the US Federal Reserve will increase the interest which definitely will make US dollar stronger. This situation may cause the shortage of US dollar in the global money market which forces lots of countries think about using other money especially the countries in ASEAN. I think if they use renminbi as the trade and investment money, in the global market, it will weaken the position of US dollars. In tourism, this change may lower the costs for Chinese visitors so that more Chinese will visit those countries.
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While America's national debt is already a massive problem, proposals like this should add even more urgency to those in office. If the US dollar becomes less ubiquitous as an international reserve currency, it could spell great problems for our ability to repay and the soundness of the dollar.
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