French President Emmanuel Macron US dollar She said she should focus on reducing her addiction to her.
President Macron said in a new interview with Politico that European leaders should soften their ties with America. However, he said that they should focus on staying out of a possible conflict between China and the United States over Taiwan.
These comments came after Macron’s three-day trip to China and a high-level meeting with Chinese President Xi Jinping.
When it comes to global dependence on the dollar, Macron specifically says Europe needs to reduce its need for the “extraterritoriality of the US dollar.”
“If tensions between the two superpowers escalate…we will have neither the time nor the resources to finance our strategic autonomy and become vassals.”
The dollar has played a central role in global trade and the global monetary system for decades. However, it has acted as the world’s only reserve currency.
It is by far the dominant currency in the foreign exchange market and the most widely used currency in international transactions.
But recent international efforts have focused on ending the world’s long-standing relationship with the dollar.
A group of economically interconnected countries known as the BRICS are reportedly preparing to launch an alternative currency that will bypass the dollar.
As we have reported as Koinfinans.com, the new currency can be pegged to precious metals or other fixed assets.
BRICS refers to the countries of Brazil, Russia, India, China and South Africa.
It is stated that a number of other countries, including Saudi Arabia, Argentina, Iran, Indonesia, Turkey and Egypt, are interested in joining the alliance.