Helel:


So the Chinese own and invented IPhone?

I no put your mouth. Steve jobs an asian. Plus the hardware is from China software is apple. Apple is a software company.

Rubbiish:

So it is now America destroying blacks??
U see your senseless reasoning??
How many Blacks dey your China & Russia as compared to America? Will u even go to any of China or Russia if given a free visa today? Hypocrite!

am not staying in another man' country we want to develop our own. Plus I only travel out for vacation

WriterNig:



The global de-dollarization campaign is gaining momentum, as countries around the world seek alternatives to the hegemony of the 🇺🇸 US dollar.

🇷🇺 Russia and 🇨🇳 China are trading in their own currencies.

Beijing, 🇦🇷 Argentina and 🇧🇷 Brazil have also dropped the dollar in bilateral trade.

The 🇦🇪 UAE is selling China its gas in yuan, through a French company.

🇧🇩 Bangladesh pays a Russian nuclear power company in Russian rubles, ditching the U.S dollars.

🇵🇰 Pakistan and 🇮🇳 India are trading with Russia in rubles and their local currencies.

Southeast Asian nations in ASEAN are de-dollarizing their trade, promoting local payment systems.

🇰🇪 Kenya is buying Persian Gulf oil with its own currency.

Even the Financial Times newspaper has acknowledged that a “multipolar currency world” is emerging.

When Chinese President Xi Jinping visited Moscow in March, his Russian counterpart Vladimir Putin revealed that two-thirds of the countries’ bilateral trade is already conducted in the ruble and renminbi.

“It is important that our national currencies are increasingly used in bilateral trade“, Putin said. “We should continue promoting settlements in national currencies, and expand the reciprocal presence of financial and banking structures in our countries’ markets”.

The Russian leader added, “We support using Chinese yuan in transactions between the Russian Federation and its partners in Asia, Africa and Latin America”.

Just a week after Xi’s trip to Moscow, China announced that it had for the first time used yuan to buy liquefied natural gas (LNG) from the UAE.

The deal was negotiated between the state-owned China National Offshore Oil Company and the French company TotalEnergies, meaning European firms are now willing to conduct transactions in yuan.

French media outlet RFI described the trade as a “major step in Beijing’s attempts to undermine the US dollar as universal ‘petrodollar’ for gas and oil trade”.

The report quoted the chairman of the Shanghai Petroleum and Natural Gas Exchange, Guo Xu, who said the deal encouraged “multi-currency pricing, settlement and cross-border payment”.

On March 30, China and Brazil (the world’s most populous and sixth-most populous countries) announced they had come to an agreement to trade with each other in their local currencies, yuan and reais.

China’s media network CGTN reported, “The deal will enable China, the world’s second-largest economy, and Brazil, the biggest economy in Latin America, to conduct their massive trade and financial transactions directly, exchanging yuan for reais and vice versa instead of going through the dollar”.

It noted that China is Brazil’s biggest trading partner, and in 2022 the two countries did more than $150.5 billion worth of trade.

Brazil’s leftist President Lula da Silva has called for Latin America to develop a new currency for regional trade, which he calls the Sur.




https://www.youtube.com/watch?v=zMXJsZHla6Q

Looks like this OP is seriously pained by Western dominance.
This was how you guys rushed from Jonathan to embrace Buhari. Now turning back to hug Jonathan becomes impossible because baba left that space. Now you're left to hug and console yourself by yourself. Be careful what you wish for. You never know what you have until you lose it.
The dollar could be a weapon of war, no doubt but hey, turn around and ask yourself if it would've been better off with the Yuan or Rubbles.
See, I don't have much to say or lecture anyone about, but if you're simple minded, have a look at Russia's war in Ukraine. It was full of miscalculations and bluffs. It was reckless and hasty too. That's what the BRICS are in for. Don't expect anything exceptional from these.
The dollar has traveled as far as the Western culture and lifestyle have. I just dey laugh clowns. Xi never thought this is the wrong time to push for 'dedollarization'; against the backdrop of Ukraine's invasion and EU's resolve to deter Russian aggression. SA dey this side dey shake small yansh. Mtchewwww.

Okay now there will, from hence, always be a reserved currency or something close to that. If dollar is falling off, something else should be taking its place. Now the question is what currency can best fit into that space with the required criteria of a reserved currency?
I'll drop an article below to buttress all of these. In the meantime I leave a chart here, so you can tell with your eyes, what's at stake.

https://sundayguardianlive.com/opinion/reserve-currency-criteria-candidates-consequences

helinues:
Usa don carry their Sara pass moshalashi.

African countries would soon dump them if they insist on gay right

They really took everyone as mugu, dictating everything for them.

They want everyone under them.

Another power house will emerge

sprints1:
I no put your mouth. Steve jobs an asian. Plus the hardware is from China software is apple. Apple is a software company.

Go back to school.

FromTopToBottom:


You were told lies...oga go and read about"ARAB SPRING" before you come here to spill rubbish

No mind them.

China's yuan currency is slowly but surely being adopted for more international payments, which analysts say could lay foundations for a trade system running parallel to the dominant U.S. dollar.

The end is nearer.

Rubbiish:

See how f00lish u will continue to be?
These companies u just mentioned now, are they originally America tech companies or Chinese tech? Who are the inventors? All these una envy will do u no good. America world position is divine & no nation can trump it. Because Mark now decide to establish one Facebook control center in Nigeria, can now make u compare Nigeria to USA? Who are the inventors of Microsoft & apple products? Are they Chinese?

You are a goat o! American company wey na China dey produce their goods? American company wey dey pay tax for China? American company wey na only Chinese people e dey employ. Why you munu like that? You think I don't know that the founders of Microsoft and Apple - Bill Gates and Steve Jobs are Americans? Are you usually dull like that?

American government is borrowing what they can never pay based on a captive world supporting the dollar with no alternative to reserve their money.
If such an alternative emerges the dollar could lies 90% of its value
A consequence of a dollarized world is capital for start-ups is very easy for American businesses a and that is why you find them dominating the biggest new companies like Amazon,Google,Feel a etc. It looks like only Americans know how to Do business

BigBashiru:


Fools will just open their mouth and be talking nonsense.

- The West set up white minority government in Zimbabwe and transferred all land to Europeans....same in south africa and namibia...

- The west beheaded so many African leaders and sent their heads to England to perform demonic rituals on them.....

- you don't know history....if you did you would know Africa should run away from the west....

Who's this fool?

Gbogbowa:
my brother all that is a lie if USA is under God judgement then Nigeria is under what? Keep deceiving yourself

Leave that unrighteous human being, Nigeria wey it's sins will fill and overflow Atlantic ocean
Nigeria wey dey use human beings for money rituals Nigeria wey carry church like business the dids of my beloved country is too numerous to mention ooh

Even Russia and China are investing in DOLLARS...dey lie dey lie LOL

WriterNig:



The global de-dollarization campaign is gaining momentum, as countries around the world seek alternatives to the hegemony of the 🇺🇸 US dollar.

🇷🇺 Russia and 🇨🇳 China are trading in their own currencies.

Beijing, 🇦🇷 Argentina and 🇧🇷 Brazil have also dropped the dollar in bilateral trade.

The 🇦🇪 UAE is selling China its gas in yuan, through a French company.

🇧🇩 Bangladesh pays a Russian nuclear power company in Russian rubles, ditching the U.S dollars.

🇵🇰 Pakistan and 🇮🇳 India are trading with Russia in rubles and their local currencies.

Southeast Asian nations in ASEAN are de-dollarizing their trade, promoting local payment systems.

🇰🇪 Kenya is buying Persian Gulf oil with its own currency.

Even the Financial Times newspaper has acknowledged that a “multipolar currency world” is emerging.

When Chinese President Xi Jinping visited Moscow in March, his Russian counterpart Vladimir Putin revealed that two-thirds of the countries’ bilateral trade is already conducted in the ruble and renminbi.

“It is important that our national currencies are increasingly used in bilateral trade“, Putin said. “We should continue promoting settlements in national currencies, and expand the reciprocal presence of financial and banking structures in our countries’ markets”.

The Russian leader added, “We support using Chinese yuan in transactions between the Russian Federation and its partners in Asia, Africa and Latin America”.

Just a week after Xi’s trip to Moscow, China announced that it had for the first time used yuan to buy liquefied natural gas (LNG) from the UAE.

The deal was negotiated between the state-owned China National Offshore Oil Company and the French company TotalEnergies, meaning European firms are now willing to conduct transactions in yuan.

French media outlet RFI described the trade as a “major step in Beijing’s attempts to undermine the US dollar as universal ‘petrodollar’ for gas and oil trade”.

The report quoted the chairman of the Shanghai Petroleum and Natural Gas Exchange, Guo Xu, who said the deal encouraged “multi-currency pricing, settlement and cross-border payment”.

On March 30, China and Brazil (the world’s most populous and sixth-most populous countries) announced they had come to an agreement to trade with each other in their local currencies, yuan and reais.

China’s media network CGTN reported, “The deal will enable China, the world’s second-largest economy, and Brazil, the biggest economy in Latin America, to conduct their massive trade and financial transactions directly, exchanging yuan for reais and vice versa instead of going through the dollar”.

It noted that China is Brazil’s biggest trading partner, and in 2022 the two countries did more than $150.5 billion worth of trade.

Brazil’s leftist President Lula da Silva has called for Latin America to develop a new currency for regional trade, which he calls the Sur.




https://www.youtube.com/watch?v=zMXJsZHla6Q

SLOVFO:


The reason the dollar has stood the test of time as the currency of the world is because of the relative stability and size of the American economy. No other single country has been able to replicate that. The Chinese and Russian economies (and politics) are not so stable. And can be easily manipulated by the authorities and external factors.

Size ??

did it become big overnight?

The reasons is mainly because it won world war 2 and at that time of the major powers was in the best shape financially.

IN 1945 WHEN WORLD WAR TWO ENDED. THE USA CONTRIBUTED ABOUT HALF OF THE TOTAL WORLD GDP


Digest THAT

It also was able to persuade Saudi Arabia to price oil in dollars.
The petrodollar is the foundation on which the development of world trade in dollars is based.

It is based on its military might and dominance of Western Europe that were weakened by World War 2. This has allowed it to dominate the World bank and IMF
Dollarization meant the US is the de facto Central bank of the world

Leebeedo:


African countries like Nigeria,

Why you con put that emotion icon join after your statement ehn?

ocelot2006:


The dollar begins to lose its value, and the US loses the ability to control others via the weaponization of the dollar and other financial tools like SWIFT as other countries can now fall back on other currencies like the Yuan and Ruble along with alternative systems like SPFS and CIPS. In a nutshell, the USA loses its influence and power over others.

Are you an economist?

ovieigho:
Be jubilating
As if you can live happily in China ..🤣


I remembered Nigerians that absconded during Russia 2018 World Cup !! Body tell them before they cried for self deportation


I wonder why people hate USA that have done so much for the world ….

Thank you so much, people often forget events so quickly.
Majority of these people talking trash here would gladly take the opportunity to relocate to the same America if given the chance.
Infact,Majority of them Still have pending applications at the US consulate,I wish them luck to apply for Russia and China ,North Korea visa .

RAND250:
Nice way to go

Nothing can work against dollar

Helel:



Go back to school.

. Go and sit down that is why Tim crook is still scamming you people gullible Nigerians. uSA asslicker

PROPEACE:

You are a goat o! American company wey na China dey produce their goods? American company wey dey pay tax for China? American company wey na only Chinese people e dey employ. Why you munu like that? You think I don't know that the founders of Microsoft and Apple - Bill Gates and Elon Musk are Americans? Are you usually dull like that?

you better leave that american puppet. Even billgates knows the importance of Asia in the global market. He never invented Microsoft the Asians were the big game players. He had the idea fine they perfected it for him. Dr vandana Shiva exposed him. The algorithm they are all using to code no be Asia he come from. Mumu

Gbogbowa:
my brother dont mind them Dollar will still beat them, most people travel to usa for many reason and send dollar back home, how many people travel and stay in china compare to USA they are just foolin ghemselves

You don't need to travel to China or even stay back. They've got enough manpower to be a manufacturing powerhouse. Until the US can match them in manufacturing and production, BRICS have come to stay.

sprints1:
complete mumu. U put something for my house and you think I cannot control it. Why do u think they put it in China. Don't u know most tech come from China and Taiwan. Olodo. The stupid iPhone u are using to reply is made in China all parts from them the only difference is the OS America built think before u talk Mr rubbish

You sef come mumu pass the person wey you dey call mumu. So IPhone tech come from China?
Look for someone with a little more sense and ask what 'tech' means

ovieigho:
Be jubilating
As if you can live happily in China ..🤣


I remembered Nigerians that absconded during Russia 2018 World Cup !! Body tell them before they cried for self deportation


I wonder why people hate USA that have done so much for the world ….

Tell them oh.. these people are so ignorant. Instead of hating Nigerian leaders for their corruption, they are hating USA. A lot of Chinese and Russians hate their own leaders sef, but these people are praising them. Misplaced priorities.

helinues:


African countries are working towards self sufficient. Sooner or later, we wont longer need their service

Modified: It's simply inferiority complex that will make one to be relying on others for long. Is it a bad thing for African countries to be self sufficient? Have some people gave up on African to be self reliance.

Make una stop the unnecessary mentioning

What self sufficiency? They are working towards becoming puppets of China. We should stop taking loans from China first.

WrriterNig:


You are simple minded.

When every country starts trading in their own currencies, who then would have the need for the US dollars?

You need to understand why people trade in US dollars in the first place.

Gadafii:
this was why they took out gadafi


he wanted a single currency for africa/end to dollarization but they killed him and made libya a failed state

It's not that simple. Libyans led the fight against Gadafi.

Very good news. No empire last forever

Cool

coputa:
African countries shouldn't join this madness perpetuated by China and Russia.American can not be wished away at least for now.This is a country that comes to the rescue when citizens and smaller countries are oppressed.Ukraine is a case study,China and Russia won't have their way.The Dollar has come to stay, America has a robust economy that keep their currency in check and a benchmark for other currencies, even the dollar is more used in international business transactions with Britain.

Nobody is wishing the Dollar away or US at that. We should endeavour to look at things without sentiments. How come it is okay for the US to invade Libya, Iraq and all the small countries they've invaded but it is wrong for Russia to invade Ukraine. Mind you, Ukraine shares a common boundary with Russia; a situation that comes with all the geopolitical issues you can think of. On the other hand, Libya and Iraq are in different continents thousands of miles away from the US. Yet they felt so threatened to the extent to invade and violate their geopolitical sanctity.

Absolute power intoxicates absolutely! There is a very thin line between being a big brother and being a tyrannical brute. A one-nation superpower can never portray fairness. A balance can only be achieved in a multi-nation superpower. This way, the proper check and balance will be maintained.

From an African perspective: what have we really gained from the west being superpower? Africa has remained largely impoverished even with the vast human and natural resources we boast. I know some will say blame it on your leaders, but can you honestly acquit the so called superpower and her allies of blame? We know how they back opposing forces in African nations, leading to chaos and even wars, wars they also supply weapons covertly to all the warring parties.

Abeg I no wan continue, this thing dey pain me seriously. Africa needs a hero. I don't know when or where he/she will come, but I hope s/he comes soon.

This news sweet me well well.

Righteousness2:
If you really want to know or you want to have a grasp of what is playing out in the world today, you MUST be a student of the Word of God, the Holy Bible.

Like I have always said here, America aka Nomerica is the "Mystery Babylon" described by John the Beloved in the book of Revelation.
What we seeing now is the physical manifestation of what has happened spiritually.

Nomerica is right now under the judgement of the Most High GOD. A nation that has turned her back on God right from the leadership . It is doom! Doom! Doom!
Whatever is happening now is nothing compared to What is coming. Read Revelation 18 to understand what is coming on her.

For the people of God there and those states that refused to sign those satanic laws of lgbt, abortion, transgender, and confusing little kids on their gender, fear not. God will spare you.

Usually hate seeing your post but I opened the thread expecting to see someone say this. Even as a non religious person, I have to admit you are spot on this time around. It is dreadful news

Mankindman:
The question?
The strength of the US $ is rooted in the vibrant and liquid NYSE, technological innovation, human resources and Agriculture.

The strength of the Chinese Yuan is in Chinese exports and the population.
The strength of Saudi Arabia Riyadh is in Oil and tourism/pilgrimage
The West will always be the West.
Innovation rule the World.
Underate the Americans at your peril.
US trust herself, her economy, her military and allies.These are the determinlnant of US$ strength.
Nigeria as a nation should identify with the West. The benefits will far outweigh any perceive misconception.
If our leaders can put Nigeria in order, in terms of Rule of law, security and electricity, most of the American manufacturers will dump the BRICS and establish industries in Nigeria.
The hidden agenda and utmost goal of China is to re-colonise Africa.
The Chinese target in Brazil is Agriculture, they plan to use Brazil as an alternative food basket for their population.
Time will tell if the BRICS will survive inequality of resource distributions.

You're the most confident dumb person I've seen in nairaland

Hpesoj:


Are you an economist? It will interest you to know that the heavy demand for US dollars for international trade comes at a cost for the US economy. The appreciation of the dollars often give rise to higher inflation rate and sustained trade deficits. Trust me, China or Russia will not submit their currencies as standard currency for international trade. All the instances of China buying Saudi oil in yuan and India buying Russia gas in ruble is just to reduce the cost of international trade between the parties. In fact, it is not new. I'm sure you still remember the 2018 Naira/yuan currency swap agreement between Nigeria and China?

Appreciation of a currency gives rise to inflation? What then does depreciation of a currency do?