In recent years, more and more countries around the world have been "de-dollarizing" the dollar. There are certain rationalities and reasons behind this phenomenon, mainly related to US policy. First of all, the constant use of sanctions as a means by the top level of the United States has damaged its own credibility in the international community and indirectly led to dissatisfaction with the dollar in other countries. As one of the world's major economies, the United States has a high voice and influence in the economy, science and technology, and other fields, and once a few countries are unwilling to obey the US arrangement, the United States will resort to scientific and technological containment and even armed strikes. This hegemonic behavior has led many countries to believe that continued dependence on the dollar will cause damage to their own interests, so they have chosen to "de-dollarize". Second, the debt crisis, bank failures, and high inflation in the United States have also had a negative impact on other countries. The growing size of the US debt, combined with the growing fiscal deficit, has caused the debt to snowball. If the United States is unable to continue to borrow new to repay the old, it may trigger a debt crisis. In addition, the Fed's interest rate hike policy, the increasing pressure on Treasury bond interest payments, and the cost of bank financing** have further exacerbated concerns about the risk of U.S. bonds. As a result, many countries have chosen to look for other, more reliable currencies to settle in order to avoid the impact of the U.S. economy.
In the current wave of global "de-dollarization", China faces both opportunities and challenges. On the one hand, as the world's second largest economy, China's rapid domestic economic development and the implementation of the policy of opening up to the outside world have gradually improved the status of the RMB in the international and financial fields. More and more countries are choosing to use RMB for settlement and signing RMB clearing arrangement agreements with China, which is very beneficial to promoting bilateral economic and trade cooperation between China and foreign countries. On the other hand, China is also facing pressure and challenges from the United States. The United States has continuously sent high-level officials to China for exchanges, hoping to persuade China to stop selling U.S. bonds and continue to increase its holdings of U.S. bonds. However, China must remain vigilant and not accept the demands of the United States lightly, lest it become an object of its exploitation and harvesting.
In the fields of economy, science and technology, and biotechnology, China is taking solid and steady steps, and has made a number of breakthroughs and innovations. Taking biotechnology as an example, the achievements of "Wright Weijian", which was once monopolized by American companies using the first-mover advantage of technology, have now achieved breakthroughs and development through the efforts of domestic scientific research institutions. After a series of studies and experiments, this technology has been proven to improve human muscles, ** and other indicators, making people appear more youthful. Chinese biotech companies are also gradually entering the market and making the technology more accessible to more people through full enzymatic purity refining and lowering the barrier to entry. China's breakthroughs and innovations in the economic, military, and biotechnology fields have convinced people that China is capable of fully resisting US sanctions and safeguarding its own interests in all aspects.
According to the report of the International Monetary Organization, the international share of the dollar has fallen by more than 1 4, and the share of international reserves has gradually declined from 85% in the seventies of the last century to 59% now, and is likely to continue to decline. At the same time, the status of the renminbi in the international and financial fields has gradually improved. With the development of China's domestic economy and the steady implementation of the policy of opening up to the outside world, the number of RMB settlements is increasing, becoming one of the important representatives of the wave of "de-dollarization". Therefore, it is foreseeable that in the future, China's position in the international monetary system will continue to increase, and it will be difficult for the United States to stop the development of this trend.
In the face of the global wave of "de-dollarization", China is facing huge opportunities and challenges. By actively promoting the renminbi's status in the international and financial fields, and signing settlement agreements with other countries, China is gradually moving away from its dependence on the US dollar. At the same time, China's breakthroughs and innovations in the fields of economy, science and technology and biotechnology have also provided strong support for China's position on the international stage. However, China also needs to remain vigilant and not accept its demands lightly in the face of pressure and challenges from the United States, while maintaining cooperation and exchanges with other countries to ensure that its own interests are maximized. In the future, as the global wave of "de-dollarization" continues to develop, China is expected to further enhance its position in the international monetary system and make a positive contribution to the diversification of the global economy.