Yardeni Research President Ed Yardeni, RIA Advisors CIO Lance Roberts and NatWest Markets Co-Head of Global Economics Michelle Girard provide insight on the state of the U.S. economy on ‘Making Money.’
The rise of China as an economic powerhouse in global trade in recent decades has sparked concerns about the long-term status of the U.S. dollar as the world’s primary reserve currency, which it has been since the end of World War II.
China recently announced a deal with Brazil to denominate more of their bilateral trade in their own currencies instead of the dollar. China is also in talks to buy oil from Saudi Arabia and other oil-rich Gulf countries in its currency rather than the dollar. Those developments have given rise to speculation that China’s renminbi (also known as the yuan) could eventually overtake the dollar as the world’s preferred trading currency.
The dollar’s status as the…