Whenever doubts arise about the US dollar’s strength, the search for alternatives intensifies, with China’s renminbi often mentioned as the potential successor in the global financial order.
Dollar Strength Sparks Alternative Search
Whenever doubts arise about the strength of the US dollar, an immediate search for alternatives begins.
Various Alternatives Considered
In recent years, particularly during Donald Trump’s second term, there have been many such moments of doubt, with a wide range of potential alternatives being discussed, including the euro, Swiss franc, gold, and even bitcoin.
Chinese Renminbi Highlighted as Top Contender
However, it is the Chinese currency – renminbi (whose basic unit is the yuan) – that is most frequently mentioned as the natural successor to the dollar in the global financial order.