Chinas real plan for the dollar - Yanis Varoufakis & Wolfgang Munchau | The Econoclasts

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In this episode of The Econoclasts Yanis Varoufakis debunks the widespread belief that China is actively trying to dethrone the US dollar as the world's reserve currency, first by turning the yuan into the common currency of BRICS+ before later using it as a bulwark to end dollar’s reign. Does Beijing indeed want the burden of the reserve currency, and if not, what methods will it deploy to bypass US sanctions and escalating Western pressure?

The Econoclasts is the new podcast from UnHerd in which Yanis Varoufakis and Wolfgang Munchau each week pick pillars of the economic orthodoxy - so-called 'settled facts' - and shatter them. Why? Because, while they don't always agree politically, they’re united in one conviction: the consensus is rotten and the establishment's model is failing.

Watch it on the UnHerd website: https://unherd.com/watch-listen/chinas-real-plan-for-the-dollar/

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//TIMECODES//

00:00 - 01:45 - Why is the dollar the world’s reserve currency?
01:45 - 18:35 - Does China really want to replace the dollar?
18:35 - 23:15 - What is the alternative currency regime?

#UnHerd #dedollarisation #China