{"id":34680,"date":"2018-06-03T06:46:40","date_gmt":"2018-06-03T11:46:40","guid":{"rendered":"http:\/\/olduvai.ca\/?p=34680"},"modified":"2018-06-03T06:46:40","modified_gmt":"2018-06-03T11:46:40","slug":"de-dollarization-escalates-african-economy-needs-more-usage-of-chinese-yuan","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=34680","title":{"rendered":"De-Dollarization Escalates: &#8220;African Economy Needs More Usage Of Chinese Yuan&#8221;"},"content":{"rendered":"<div id=\"block-zerohedge-page-title\" class=\"block block-core block-page-title-block\">\n<h3 class=\"page-title\"><a href=\"https:\/\/www.zerohedge.com\/news\/2018-06-02\/de-dollarization-escalates-african-economy-needs-more-usage-chinese-yuan\"><span class=\"field field--name-title field--type-string field--label-hidden\">De-Dollarization Escalates: &#8220;African Economy Needs More Usage Of Chinese Yuan&#8221;<\/span><\/a><\/h3>\n<\/div>\n<div id=\"block-zerohedge-content\" class=\"block block-system block-system-main-block\">\n<article class=\"node node--type-article node--view-mode-full\" role=\"article\" data-gtm-vis-recent-on-screen-2077925_22=\"1194\" data-gtm-vis-first-on-screen-2077925_22=\"1194\" data-gtm-vis-total-visible-time-2077925_22=\"100\" data-gtm-vis-has-fired-2077925_22=\"1\">\n<footer class=\"node__meta\">\n<div class=\"submission-wrapper\"><\/div>\n<div class=\"a2a_kit a2a_kit_size_32 a2a_default_style\" data-a2a-icon-color=\"#222\">\n<div><strong>The world&#8217;s push towards de-dollarization continues to accelerate <\/strong>as Americans go about their daily lives worrying more about blasphemous comedians, participation trophies, and Kim and Kanye&#8217;s traitorous behavior.<\/div>\n<\/div>\n<\/footer>\n<div class=\"node__content\">\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/de-dollarization_0.jpg?itok=Vdl49VYT\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/de-dollarization_0.jpg?itok=Vdl49VYT\" data-link-option=\"0\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/de-dollarization_0.jpg\" srcset=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/styles\/inline_image_desktop\/public\/inline-images\/de-dollarization_0.jpg?itok=Vdl49VYT 1x\" alt=\"\" width=\"500\" height=\"282\" data-entity-type=\"file\" data-entity-uuid=\"ddc7fab8-72ee-419a-b24c-6fbfa48352c9\" data-responsive-image-style=\"inline_images\" \/><\/a><\/p>\n<p>From <a href=\"https:\/\/www.zerohedge.com\/news\/2018-05-23\/lme-plans-launch-yuan-denominated-metals-futures-markets\">yuan-denominated oil futures (and soon to be yuan-denominated metals contracts)<\/a> to Europe&#8217;s decision to use Yuan to pay for Iranian oil; and from non-dollar settlement systems for Russia\/Chinese trade to Turkey&#8217;s call for citizens to dump the dollar, it appears each action of the Trump administration deepens the distrust in the dollar hegemony, coalescing the world against Washington&#8217;s reserve currency unipolar order.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/de-dollarization.png?itok=HDUOte4Y\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/de-dollarization.png?itok=HDUOte4Y\" data-link-option=\"0\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/de-dollarization.png\" srcset=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/styles\/inline_image_desktop\/public\/inline-images\/de-dollarization.png?itok=HDUOte4Y 1x\" alt=\"\" width=\"500\" height=\"385\" data-entity-type=\"file\" data-entity-uuid=\"240bfc38-ea19-4d89-b412-b273bb84237b\" data-responsive-image-style=\"inline_images\" \/><\/a><\/p>\n<p><strong>All of which leads to this&#8230;<\/strong><\/p>\n<p>In a well-placed interview in <a href=\"http:\/\/www.xinhuanet.com\/english\/2018-06\/02\/c_137225509.htm\">China&#8217;s Xinhua news<\/a> &#8211; the official press agency of the People&#8217;s Republic of China &#8211; <strong>officials from Africa are seen calling for more yuanification of the massive continent&#8217;s economies.<\/strong><\/p>\n<p><strong><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/CnbbeeE005003_20180602_NBMFN0A001_11n.jpg?itok=YEA9QzAr\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/CnbbeeE005003_20180602_NBMFN0A001_11n.jpg?itok=YEA9QzAr\" data-link-option=\"0\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/CnbbeeE005003_20180602_NBMFN0A001_11n.jpg\" srcset=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/styles\/inline_image_desktop\/public\/inline-images\/CnbbeeE005003_20180602_NBMFN0A001_11n.jpg?itok=YEA9QzAr 1x\" alt=\"\" width=\"500\" height=\"333\" data-entity-type=\"file\" data-entity-uuid=\"4ccdc6ae-1c2c-4012-a3ae-efb489a92a52\" data-responsive-image-style=\"inline_images\" \/><\/a><\/strong><\/p>\n<p><strong>There has been a general consensus among some eastern and southern African countries that there should be more usage of the Chinese yuan in the region because of China&#8217;s growing influence in business and trade, a financial expert said Thursday.<\/strong><\/p>\n<p>Executive director of the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) Caleb Fundanga said a forum for financial experts earlier in the week had agreed that there was need to use the Chinese yuan as a reserve currency because China was playing an active role in their economies.<\/p>\n<p>The forum was attended by deputy central bank governors and deputy permanent secretaries of finance from 14 countries that fall under MEFMI.<\/p>\n<blockquote><p><strong>&#8220;The general conclusion is that we should use the yuan more because its time has come. We are doing more business (with China) so it&#8217;s natural that we use the currency of the country with which we are trading.<\/strong><\/p><\/blockquote>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>De-Dollarization Escalates: &#8220;African Economy Needs More Usage Of Chinese Yuan&#8221; The world&#8217;s push towards de-dollarization continues to accelerate as Americans go about their daily lives worrying more about blasphemous comedians, participation trophies, and Kim and Kanye&#8217;s traitorous behavior. From yuan-denominated oil futures (and soon to be yuan-denominated metals contracts) to Europe&#8217;s decision to use Yuan [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[18,130,1025,827,839,1031,8788],"class_list":["post-34680","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-africa","tag-china","tag-de-dollarization","tag-united-states","tag-us-dollar","tag-yuan","tag-zeorhedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34680"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34680\/revisions"}],"predecessor-version":[{"id":34681,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34680\/revisions\/34681"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}