#精品长文创作季#
The turbulence of the international payment system will not only affect the distribution of economic interests of various countries, but also be a barometer of the balance of international political and economic power, which is of great importance. According to the latest report of SWIFT, the international payment system has undergone great changes! The most interesting thing is the trend of the dollar and the euro.
First, the dollar rose
Judging from the latest report, the US dollar has risen the fastest and highest among all currency payments, an increase of 47.3 percent over last year's payment ratio, which is an astonishing figure! The rise in US dollar currency payments shows from the side that the US dollar is already a well-deserved "dark horse" in the global monetary system, surpassing the euro, the former number one payment currency.
As the cornerstone of the international monetary system, the US dollar has long been firmly established. However, the economic market has always been changing rapidly, and no one can always be invincible, and the position of the dollar is still threatened in the constantly changing economic landscape. Some people say that the United States adopted the method of "pausing interest rate hikes" this time in order to stir up the currency market.
In this way, the importance of the dollar is demonstrated, and the currency of other countries is shorted, which is typical of "selfish" and "hegemonic" behavior. The US dollar rose by 47.3%, which also shows from the side that the economic strength of the United States should not be underestimated. As an economic power, the U.S. financial market and trade exchanges have attracted much attention, attracting countless investors to follow suit.
It's very simple: as long as the proportion of dollars paid increases, there will be many investors who will continue to push the exchange rate. Judging from the current situation, even if all countries are aware of the hegemonic behavior of the United States, this does not affect its international status. As a reserve currency, the stability and liquidity of the US dollar are still widely recognized, otherwise it would not have risen so rapidly.
Second, the euro fell
Compared to the steady rise of the dollar, the euro is not so lucky. The once No.1 currency payment is now down 21.9%, surpassed by the United States. Looking at the numbers alone, the euro paid 37.88% in the previous year, which is on a par with the dollar. It's only been a short year, and the decline is so serious, it really has to be described as "miserable".
Obviously, they are all developed countries, but why has the euro fallen so seriously in the past year? The main reason has to start with the challenges facing the European economy. External factors such as sluggish economic growth and debt crisis have led to the weakening of the entire European market economy, which has affected the euro's position in the international arena.
The political instability within Europe is also a major factor in the decline of the euro. In recent years, many core European countries have been deeply divided in terms of political level and policy. In particular, the Brexit incident has weakened the European economic market and affected people's trust in the euro.
Then there are some southern European countries that have too serious internal debt problems to be properly resolved. Investors' confidence in the euro is also declining, and the strong competition among global currencies has accelerated the downward trend of the euro.
It can only be said that the euro fell because of the factors behind the promotion of the United States, as well as its own internal contradictions and problems. If we can't do it in unison, we will only continue to consume our internal strength, and European countries should be aware of this. Instead of pointing the finger at others, it is better to think about adjusting yourself.
Third, the renminbi seeks to win while maintaining stability
In this currency war, the renminbi has been trying to win steadily, and after being shorted in Japan, it ranks fourth with a share of 4.69%, behind the dollar, the euro and the pound. It is said that before the "currency war" began, US Treasury Secretary Janet Yellen came to China to "visit" China, with the purpose of giving China a deterrent and causing the renminbi to also encounter a "Waterloo".
However, Yellen's wishful thinking did not kick off. How can the Chinese people's purse bags be emptied so easily? The Chinese people do not care at all about the proportion of the dollar's growth, because after all, China's renminbi is more comfortable to spend and does not have to take risks.
As a major trading country, China imports and exports a high number of goods and transactions every year. So why is the proportion of RMB payments not high in the SWIFT system report? The main problem is the suppression in the United States. How can I say it? China's import and export trade has its own way of measurement and settlement, and SWIFT does not have to worry about it at all.
It has to be said that with the rapid rise of China's economy, Li Wei, the renminbi in international payments, is also gradually increasing. Although the current proportion of international payments is not high, the future growth momentum cannot be ignored, and squeezing into the top three is just around the corner.
Epilogue:
No one can predict how the pattern of international payments will change in the future. What is certain is that in the matter of monetary payment, the United States will make "insidious moves" behind its back, which is their consistent style, just to keep their false reputation as "the world's first." For China, it is just the right time to seize the changes in the payment landscape and promote the position of the renminbi in the international market. By strengthening cooperation with the international market, we will increase the proportion of RMB payments.
References:
Simple Finance 2024.04.21 "International Payments Have Changed Dramatically!The U.S. Dollar Rises to 47.3%, the Euro Plummets to 21.9%, What About the Renminbi?"
Wang Ye said Finance 2024.04.19 "Global Currency Payment Changes Dramatically: The Euro Fell to 21.93%, and the U.S. Dollar Rose to 47.37%!