Recently, the situation in the Red Sea region has become increasingly tense, and the Yemeni Houthi continue to attack ships, causing a number of international shipping companies to announce a detour to the Cape of Good Hope, increasing the transportation time and cost, and bringing great pressure and uncertainty to the global ** chain.
A direct consequence of the Red Sea crisis is the erosion of the hegemony of the dollar oil. U.S. dollar oil is the most powerful U.S. in maintaining global financial hegemony"** It allows the U.S. to influence the global economy by controlling oil pricing power and issuing dollars.
But Iran took the lead in firing the "first shot", sending 40 million tons of oil into China, but there was one requirement, that is, to settle in yuan. The move set off a chain reaction that led many countries to follow suit, abandoning dollar settlements in favor of the renminbi or their own currencies for oil transactions.
According to reports, the UAE is in contact with 15 countries to prepare a "showdown" with the United States and completely get rid of the control of the dollar. Saudi Arabia also borrowed money from China, used RMB to buy **, and increased investment in China, the actions of these countries are undoubtedly a challenge to the hegemony of the US dollar, but also a promotion of the internationalization of the RMB.
The Red Sea crisis can be said to have expanded the international influence of the renminbi to some extent and created new opportunities for our economic development. The use of RMB for cross-border settlement is increasing rapidly, in contrast to the US dollar, and now RMB has become the world's fifth largest payment currency, the third largest financing currency, and the second largest settlement currency.
The internationalization of RMB is conducive to reducing exchange rate risks, improving convenience, enhancing international competitiveness, and promoting economic transformation and upgrading. In addition, it is also conducive to promoting the diversification of the global monetary system, balancing the international financial order, and maintaining global economic stability.
Another direct consequence of the Red Sea crisis is the renewed pressure on the global ** chain. Due to the insecurity of the Red Sea shipping lane, many goods cannot reach their destinations on time, resulting in imbalances between supply and demand, fluctuations, and frictions, which is a big test for a country like China that is highly dependent on foreign trade.
However, China can use the China-Europe Express to alleviate the pressure on the first chain and escort economic development. The China-Europe Express is a land-based channel opened by China under the "Belt and Road" initiative, connecting 31 countries in China and Europe, covering 60% of the world's population and 75% of the world's GDP.
The advantage of the China-Europe Express is that it is faster than sea freight, cheaper than air freight, and safer and more stable. After the Red Sea crisis, the business consultation volume of the China-Europe Express has doubled, and the transportation volume has also increased significantly, which not only guarantees the best exchanges between China and Europe, but also promotes the economic cooperation of countries along the route and enhances China's influence in Europe.
With the help of the China-Europe train, China has relieved the pressure on the first chain and added new impetus to economic development. The China-Europe Railway Express is an innovative measure of China in the context of globalization, which reflects China's openness and inclusiveness, and also demonstrates China's responsibility and responsibility.
The China-Europe Railway Express is a bridge between China and Europe, as well as a link between China and the world. The China-Europe Railway Express is a bright spot in China's economic development and a window for China's foreign cooperation.
The Red Sea crisis is a test for the global economy and a challenge to China's economy. Faced with this situation, China has actively responded to this situation and adopted a series of measures to protect its own interests and promote international cooperation.
The Red Sea crisis has brought benefits to the internationalization of the renminbi and created new opportunities for China's economic development. These measures fully reflect China's strategic vision, and also demonstrate China's strength and confidence.
The Red Sea crisis continues, and there is still a lot of uncertainty about what the future holds. We need to remain vigilant, prepare for various risks, manage the exposure risks that may be exposed, and reduce unnecessary losses.
At the same time, it is also necessary to maintain openness, strengthen communication and coordination with all parties, promote peace and stability in the Red Sea region, and maintain the normal operation of the global economy. The Red Sea crisis is both a crisis and an opportunity, and the key is to see how we deal with it.