Dutch Foreign Minister Sigrid Kaag stated at a European Union diplomatic summit
held in The Hague in mid-April that the EU cannot change China's decision,
but it can influence the environment around China
to jointly oppose China's attempt to undermine "rule-based international order."
At the same time, the Dutch Foreign Minister believes
that it is necessary to promote EU cooperation with China in areas
such as climate change and biodiversity.
Recently, reports released by the Dutch Intelligence Agency and Security Agency
point out that China, as an important trading partner of the West,
poses a significant threat to its economic security.
The report also states that China conducts espionage activities
such as cyberattacks in the Netherlands, violating international rules.
It is worth noting that the actions of the United States in the Russia-Ukraine conflict
have also been widely watched.
Despite claiming to help Ukraine delay the war,
the United States can actually gain huge benefits from the conflict
and bind the EU to its own battlefield against Russia and China.
Since the outbreak of the conflict, the United States, Europe, and Ukraine
are the countries that have benefited the most, which indicates a problem.
If the Nord Stream pipeline is bombed,
they can only purchase high-priced energy from the United States
and even be forced to accept policies that are detrimental to Europe.
The United States uses economic hegemony to undermine international rules
by disrupting regional peace and stability and the original energy supply chain,
achieving the goal of controlling the lifeline of the European Union.
This point has been deeply engraved in our memory.
The United States is the most warlike country in history.
In the past 20 years, it has been crazily relying on sanctions.
The number of sanctions has increased from 2000 to October 2021,
with most being against countries that it does not like,
such as North Korea and China.
The United States also used a big stick without restraint
to disrupt normal economic and trade exchanges, affecting foreign investment.
If we do not seek an alternative currency to the US dollar,
we will one day treat it as we treated Russia.
According to British media reports,
European Central Bank President Christine Lagarde said
that as more and more countries tend to hold yuan as a reserve,
their reliance on the US dollar will decrease.
This indicates that the international status of the yuan is rising,
and the status of the US dollar may be impacted.
If the US and China do not comply with international rules,
why would more and more countries consider reducing their reliance on the US dollar?
This reflects China's rise on the international stage
and the current situation where the United States has lost credibility.
The US has always been a frequent visitor to cyber monitoring,
while China has always advocated respecting the sovereignty and security of other countries
and has proven its commitment in practice.
In fact, it is the US that has leaked information about other countries
in recently leaked classified documents.
The US dollar's status as the world currency hegemon comes from the US's planning years ago,
which aimed to accelerate the country's economic development.
As the world's leading economic power,
the value of the US dollar can bring real benefits to countries holding it.
However, due to the influence of US hegemony,
the dollar has become an important tool for the US
to guide the world economy in a direction favorable to itself,
which will inevitably impose certain constraints on the economies of some countries.
This constraint is mainly manifested in the shrinking of international trade profits
or being squeezed by the US,
and once too dependent on the dollar, it may even passively accept US policies.
In addition, more and more evidence shows that the stronger the position of the dollar,
the easier it is for the US economic problems to cause crises in the world economy.
Therefore,
countries have been striving to enhance the international influence of their own currencies
to achieve a more stable economic environment.
In this context, some regional countries
are actively looking for alternative currencies to the dollar.
This approach is also feasible because some regional currencies
are more conducive to their own economic performance than the dollar.
However, at present, most countries still need to continue to use the dollar
because their economies have close ties to the dollar.
In order to complete de-dollarization as soon as possible,
it is necessary for important countries to establish a mutually beneficial relationship
and set aside their attitude of hostility towards other nations
in order to establish a recognized currency
to promote their own economic development.
For the United States, de-dollarization could mean a crisis.
Therefore, countries should gradually transition to a free economy
to complete the process of de-dollarization.
Additionally, the background of de-dollarization is to pursue economic independence,
and countries should be more inclusive in their trade currencies.
Although the trend towards de-dollarization is still unclear,
digital currencies are gradually becoming popular.
Due to the advancement of technology,
digital currencies have become a new trend and are currently in their early stages.
This is one of the reasons why some countries choose to de-dollarize.
China's digital yuan has already been put into operation in a few areas
and has achieved very positive results.
However, due to the influence of the international community,
it cannot quickly step onto the world stage.
It can be said that the status of the US dollar has attracted attention
due to the importance that countries place on their own economic security,
and in the future, it is likely to become a regional currency.
Although the collapse of the US dollar's status is possible,
international trade will continue,
and new settlement methods will certainly emerge in a timely manner.
China has also seen the adverse effects of settlement in US dollars
and has actively promoted the use of the yuan to obtain more healthy trade,
which has had a significant effect. In this era of advanced technology,
some international trade can be tied to advanced settlement technologies.
This must be based on cooperation in order to establish a relationship of mutual trust,
otherwise, it may cause various crises.
Recently, Saudi Arabia borrowing yuan from China has attracted attention
and speculation from the outside world.
Some people think that this is because the "tycoon" is short of money,
while others believe that this is preparation for de-dollarization
and getting rid of dependence on the US dollar.
As one of the world's largest oil producers,
Saudi Arabian Oil Company is well-funded.
Although the current low oil prices and increased geopolitical risks in the Gulf region
have had some impact on it, this is just reasonable financial operations.
According to reports, the oil processing company under Saudi Arabian Oil Company
has signed a $1 billion petrochemical project cooperation agreement with Sinopec,
which some people interpret as Saudi Arabia considering exploring other currencies
as a means of trade settlement to reduce its dependence on the US dollar.
In fact, Saudi Arabia has long used the US dollar for trade settlement,
which has made its dependence on the US dollar very high.
However, in recent years, the volatility of the US dollar exchange rate
has put pressure on Saudi Arabia's fiscal revenue and expenditure,
so it has begun to try using other currencies.
Overall, Saudi Arabia's borrowing of yuan from China is a reasonable financial operation
and an attempt to reduce its dependence on the US dollar.
As the global economy continues to change,
we also need to pay attention to the economic relationships
and monetary policies between countries to cope with the challenges of uncertainty.