"Russia has its entire foreign exchange reserve of over $300 dollars being frozen by the U.S. It really raised the alarm that the U.S. is trying to use the dollar as a weapon against any adversary that it has," Hong Hao, chief economist of GROW Investment Group, talked about de-dollarization on GlobalBusiness. "I think RMB will become one of the major trading currencies in the world, to displace many of the other competitors. It will become probably one of the most important reserve currencies in the world," he said.
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