- Joined
- Nov 4, 2017
No currency has a chance at replacing the dollar, it's just silly
No one is going to put themselves at the mercy of Beijing. No one thinks communist chinks are going to be less fucky wucky than Americans. All they want is a system where they have way more advantages than Washington does, and everyone knows it. No one is going to get into a financial war with the US for the benefit of China when China is going to be in a decline in a decade that it won't be able to reverse for decades or even a century. The US is the only developed country that has a future where consistent growth is a possibility. Europe, Russia, China, they're all demographically fucked. All these shitholes south of the equator, please don't waste my time. India supapowa 2200!
i wouldn't say "never" however India still has English as an official language, as does Kenya, and they will never get rid of it.
The reason is because despite the fact neither country really liking England (just the gibs + ability to escape their shit shole and turn parts of london into shitholes) nor having any native english-speaking cultures, they are comprised of sizeable minority populations who view any attempt to make Hindi, or Swahili, the sole official language as attempts by the larger populations to erase minorities.
Or in other words, they hate the British but those other niggers are worse.
So any Chinese attempts to make the Yuan the new Pecunia Franca will be rightly viewed with suspicion. There will be crab-bucketing from Russia/Japan for "why not the Ruble/Yen?", no one who borders China is going want to hand the chinks anymore power than they've got.
Its sort of the same reason the Netherlands is still a monarchy: having something no one else can replicate (one dude who kicked a lot of ass, then then 500 years of cousin fucking) prevents power struggles. Everyone wants to replace the system, but mutual distrust prevents that because they want to replace the system to gain more power.
However, the world ended up dropping the English Pound when the English destroyed their financial system attempting to recover from WWI + america's neutrality in the early part of WWI (and Germany being open for business) +Trans-atlantic telegraph had shifted the world's financial center mass to New York. So its not impossible, but given how closely tied the world markets are now, when the US economy shits the bed, everyone else's market shit the bed even harder.