nobody drop USD.. they just want to do business without depending US dollar that's all.. tbh Indonesia, Thailand, Laos and Myanmar also do the same so it's not just Malaysia..
@@arifmantias8216 Anwar literally bawa perubahan, dari harga barang keperluan seharian, gaji bulan october ni dah naik, penjawat awam dapat lebih. Corruption makin kurang. JAdi rakyat jgn lah tertipu dengan perjuangan Islam belah Pantai Timur tu. dah lah auta. pelan ekonomi pun takdak.
the word is DIVERSIFICATION ! A new word created by YELLEN instead of using DERISKING ! So a country will have a choice to deal with China using the Yuan or USD. Whatever benefits the country they will use whatever currency. Its also a geopolitical move. Malaysia will still use USD in her trade but when dealing with China Malaysia will use YUAN. In this move Malaysia still friend with the US and China at the sametime.
They'll quickly realize their mistake when they notice they're getting shortchanged in China's Yuan and find themselves in crippling debt that somehow seems to be getting bigger.
@@eduardochavacanoMalaysia made a smart move an idiot could see the western war complex corporation and wall street global hegemony is coming to an end in ten to fifteen years, the writing is on the wall, multipolar world is going to be a reality and USA has no mean to stop it, by year 2030 the dollar would depreciate by 30 percent or so due to dollar printing without limit and it's debt ceiling would go parabolic, USD would be just toilet paper in 20 years.
I'm convinced that pmx initiative is the right way forwad. Our currency value is heavily relies on US treasury interest rate. This hurts majority of our people as we import most of our daily needs. Also, he pioneers the amf idea more that 20 years ago in 90s during his tenure as finance minister as an alternative to imf that caused asean country decades of lost progress due to asian financial crisis.
What Malaysia has done is to enable alternative currencies to use for trade transactions. It comes as a form of diversification. Calling it dropping the US Dollar or De-Dollarizing is very far from the truth. The fact is, even when companies or organizations use other currencies for their transactions, they will not hold on to those currencies.
@@ZagiNoaSenile? Just bcs he's not on your side? Yeah this government is a all around hypocrite. So much for "Keadilan" lmao. You people make a mockery of democracy. You still failed to see the failures of this current government. The so-called anti corruption leader clearly tried to pull a corrupt move in Terengganu in front of the thousands of audiences for the PRN😂 What a joke. If PMX truly want to reform, kick Zahid and UMNO out of the UG and then we'll talk. Until then shut up and do as you're goddamn told. PMX should set his priority straight and put his aside his fragile ego and work together with the opposition instead of trying to screw over your every enemies.
Hundred of Nations all over the World all jumping to BRICS. Malaysia will be in a Positive Economic Term if she start Dedollarisation. Thailand and Indonesia are doing it and joining BRICS.
As an ASEAN citizen, I think it should be more oriented toward ASEAN integration rather than confronting the US dollar dominance. It makes sense, we must, or maybe perfected the likes of the Euro currency strategy in an ASEAN way.
@@bobs_1429 In a matter of distinction about the face value of the Singapore Dollar, Yes, But this could be mitigated by strengthening the economics of the first countries who would like to adopt the ASEAN single currency. It would be a long process just like every single country in Europe, When they did join the EURO ZONE it is not upfront they need to join the EURO single currency.
dreaming of EURO-like currency requires a lot of trade-offs. among which, ASEAN countries cannot simply dictate their own economic future, local currencies will be abandoned, an ASEAN central bank will determine economic policies, and eventually ASEAN parliament will shape the member states' laws. These alone cannot be taken in a single measure, just look at what the EU is undergoing. Greece's debt default hit Germany and had the key to the issue of debt restructuring. ASEAN legislative and political departments will not allow it, compromising their sovereign rights and self-determination in the name of economics.
Main problem is that all these countries wanting to de-dollarization aren’t exactly friendly with each other and are having problems with their own economy. Big sacrifices are going to be made if they do it, are they willing to pay it?
@@ndorobei4391 can’t speak Vietnamese? Bro, I speak Vietnamese whenever I speak to a Vietnamese person, why the hell would I speak Vietnamese to foreigners.
Confrontation with the US is unavoidable. Malaysia is now trading more with China that the US and EU. China is a more reliable partner to Malaysia. There's a huge market for Malaysia products and commodities in China compare to the US and the EU with all the conditions and restrictions they imposed on Malaysia.
A bit de-domination of dollar is necessary so that non-first world can have more say in world economy. Just don't be dumb and switch exclusively to something like yuan. The emphasis is always diversification to reduce risk.
The COST of the monentary transaction and liquidities are still the major concern. As USD are still the main currency of medium for pricing Commodities globally.
Don‘t you worry, US of America is not going anywhere, hence USD in SWIFT system. And it will still serve as a very important exchange rate bench mark internationally. The BRICS just create an alternative payment system only, by using the dollar based bench mark, and exchange individual currency in private to save exchange lost. US Dollar will always be in circulation because every country still trades with US, but just dropped in importance, not a prefer reserve currency thats all.
exactly. no country in the world and in the right mind use the term dropping usd. i think the best term is reducing reliant on usd. diversified. not make sense to trade with usd on all the item. this should be done long time ago.
US$ serves as Medium of Exchange as well as a Weapon. Dollar's Lord has long tenacles and their Laws can override and cripple economies. US is a 25t economy and won't go away anytime soon. Dedollarize is decades away. The West shuns the word decouple instead prefer derisk, the word the EU coined and seems the better alternative. Asian countries should begin quoting the value of their commodity in agreed regional currencies. Pursuing alternative means for international trade settlement is the future.
China, US and Europe slowdown could erase $50 Trillion Debt Bubble in the world and can cause big depression than that of 1930s. There will lot of capital trimming, trade trimming and recognition of unrealized losses sitting in most of the banks across the globe. VC will take a hit. Salaries and Pensions would decrease by 50% and global growth will come to a standstill in the world. On top of that DeDollarization acceleration could see a fall and cause major depression. Are you ready to work after 80% paycut across the globe. Maybe NO, but sadly it will be a realty.
America have never played the game fair, it's a good move to stop relying on USD when buying or selling stuff. For example why should we use USD to buy from China or vice versa?
De-dollarization is not easy as it seems, doing trade with your own currency will drive it to be printed in more volume so it will be volatile to change in value as it can drive towards inflation when more money is printed. Also the other thing I see bad on this is that basically if Malaysia and India for example do some trade, which currency will be used?! This will drive disputes between the counterparts and it will not be good to see, unless they see a way to dodge like using the Euro or Yuan 🤔
The currency exchange rate are there between Malaysia and India already, or for any currency in the world for that matter, we just need to exchange directly between two countries without paying 3~8% dollar tax to USA. Nothing wierd or fancy about it.
99% of the normal people don't care whether the local currency is replacing the USD in trading because they have no benefits from it. It means that the actual BRICS propaganda and USD weakness has no impact for them. Malaysia and Indonesia should get the corruption under control and not thinking about the USD....
Malaysian leaders are not like that of the Philippines. Our leaders have its own people interest first. In fact our former PN Dr Mahathir was championing against the use of the US dollars during his time. But a small nation leader can only bark but no bite. Now Anwar is lucky to have BRICS nation leading the way. Good job Malaysia ❤❤❤
Dump US dollar to Yuan? Who wants to bet on a country that do not keep their promise? China promised Malaysia to reduce trade deficit by buying more from Malaysia, and they didn't. Instead they grow their own durian, stop/reduce bird nest import.
The funny thing China buys more of Indonesian CPO and bird nest...and gave our country a total investment of usd 145 Billion for Petrochemicals, Photovoltaic, Glassware etc, alumunium , EV Batteries after his visit yesterday.
@@livingwater888 the 145 billion is just commitment, let's see whether China honour their commitment. Last check, China didn't fulfill their commitment to Trump.
@@livingwater888 Indonesia main problem is Islam. Most people are still stuck in the same old political and religious bubble. In 10 years, Indonesia will look no different than (Taliban)Afghanistan.
@@juanpablo-hz3dq dream on bro ....we are even comparable to Malaysia on Islsm. Our country moslem majority are quite tolerant and nearly liberally minded...those minority groups who wish to bring a taliban style rule is dead on arrivsl. You need to do a more deep research and not depends yourself on western media bullhorn because of our close relation to china and russia.
@@livingwater888 short answer: NO, Indonesia still has a long way to go to become a religiously tolerant country. The Indonesian government does not take it seriously this issue. they let radical Islam grow day by day, forgetting unity and humanity soon it will disappear.
This Asian monetary fund, and other variations of it have been mooted by ASEAN for decades. And. no, Malaysia will never abandon USD. They may use other currencies for trade purposes, but the painful 97 financial crisis is still fresh in our minds. We simply didn't have enough USD reserves to defend the ringgit from speculative attack back in 1997. Nope, contrary to what this vlog is claiming, Malaysia will not abandon the USD.
Concept of Asia Monetary Fund has nothing to do with de-dolarisation. The name itself should tell you that. Anwar Ibrahim not stupid enough to sacrifice Malaysia 'for the sake of humanity'.
easier to say, but look at your data and metrics, the volume of currency reserves as compared to gold. traunching the US dollar will not stop, Euro, British Pound, Japanese Yen, Australian, Canadian, and New Zealand dollars as currencies of choice. There will always be a DOMINANT currency and none of it will be in BRICS currency for numerous reasons. De-dollarization will only bring a new dominant currency. BRICS's dream of a basket of currencies will work more against globalization. China and Russia serve BRICS as a platform of discord with US and nothing more. China suffering from serious deflation, and Russia with its rubble collapsing at the brink of speed, both countries are isolated.
How can Malaysia drop the dollar when 2 months ago you did a video saying Malaysia has massive dollar reserves? What will they do with that kind of reserve, trade it with other currencies? Perhaps Malaysia is simply diversifying it's portfolio and with the U.S. dollar still the most widely used and accepted currency across world trades, it is essential to keep using the currency you use with your trade partners.
Whoa, hold up! Let's talk about this funky twist! So, you know what's really discouraging? The fact that Bangladesh is being perceived as this beggar country in need of constant help, while countries like the US, with all their money and power, are the ones who'll supposedly lend a helping hand. But here's the kicker - the main point is, why should a single country, the US in this case, have control over the entire global financial system and dictate to others while dealing with their own centuries-old human catastrophes and bullying tendencies? It's just embarrassing to see how they come in with their haughty lectures about how a country should be run. We've transformed from zero to today's bindu (point), and we're heading toward a future where we'll become a sea. But here's the catch, we need to take control of our future ourselves, not let others dictate our fate. So, let's not wait for others to tell us what to do. Let's shape our own future, be our own captains! 😄
US Dollar is the current media of exchange in iternational trading. Formally it was sterline £. Any region or country can decide what to hold as International reserves and use anything other than US dollars for media of exchange for international trade but who will accept solt as mediam of exchange for international trade? Then whole world should like to accept solt as media of exchange instead of US $.
thank god we have a wise leader with guts. We dont want to replace the US dollar we just want to diversity so that US can be accountable and repay all the debt they own by working harder , produce, instead of leaching on the cheap products produced by others.
good, at least we have backup. better have plan than none. because once the USD drop really bad. we all will fucked up. We Asian have to backup each others. Like a contingency plan.
BRICS is dead only India has what can be said to be a consumer-based society, China is aging rapidly and returns to infrastructure investments which it used to escape the 2008 crisis is not turning out to be sustainable. Russian oil sales to China and India come at a steep discount to the detriment of Russian finances. All the talk of de-dolarization is not new individual countries in ASEAN have long traded interms of each others currencies in certain situations. But no currency has the liquidity and implicit trust of large businesses to conduct international transactions other than the dollar. You ask any member of the CCP which would they rather have 7 million yuan in an offshore bank or 1 million dollars in an offhsore bank.
If you are thinking completely do away with UDS in international trade, then you are very wrong. As long as USA is around, every country will trade with USA and hold some dollars for trading purpose. China will trade with USA and use Dollar accordingly. However, SWIFT and Dollar are not the only system to trade, especially with 200 plus countries and areas in the world. China has succesfully reduce USD transaction to less than 50% in her global trade last month, for the first time. There will be a dual system internationally.
@@merrick6484 not necessarily dual more like there will be individual bilateral systems. China is doing that with many of its trading in Asia and Africa but it will not make sense for say Malaysia and the Philippines to settle in renminbi it will still be usd or a bilateral transaction
This is fine. The US will not be defending Malaysia's ocean trade. It's time for these countries to pay the insurance companies the real rate to insure shipments with no guarantee of U.S. Navy protection on the high seas. Let the Pirates room the seas again.
😂Malaysia don't need any protection from US.Malaysia are more focussing on his economy.And about the water trade Malaysia has deal with indonesia to protect the trade sea from pirates
In my own personal opinion, Malaysia economy is already not in a good shape. If they are to implement new currency system during this time, it may lead to more chaos and confusions. The new PM should first strengthen the govt, reduce corruptions, improve the economy and adopt meritocracy system in both govt and the private sector. We have seen in Malaysia, for many years and generations, the political scenes are overwhelmed with race and religion domination struggle. By changing their momentary system, it may not do much help, instead we may see more infighting to see who can control and benefit from the new momentary system...
The dropping of the dollar & the emergence of bric is caused by the attitude of the us themselves which creates the needs & opportunities for the world for a new alternatives
It is hoped that the financial managers of the Philippines who have studied, are experts in some ways of the US financial system and are having a hard time decoupling from the US system must learn from this.
the filipinos will have a hard time not because they more or less have the same financial system as the US but due to the fact that they have this eternal colonial mentality and can't break its hold on the US apron strings.
I've been updated about this de-dollarization since February 2023. That time our bias local MSM did not cover that nor the bankruptcies of the major backs of USA and all the awful economic crisis of USA. It's already destruction up to this point. We should dispose the USD. Murica is only weaponizing their USD to destroy our economy. USD is the reason for high inflation around the world. If you are updated with USA, then, you should know that US economy is dying. There were already 4 major banks like Silicon Valley that went bankrupt this 2023. USA has 100+ trillion dollars debt now and they're about to default. FYI, Brandon aka joe biden is the most hated president in USA right now. The americans hate their government and do not trust them especially under biden admin. Thus, we Pilipinos must not trust USA. We should kick them out of the Philippines! Let's DE-DOLLARIZE!
I suggest international trade be done by barter trade system. The difference in monetary value between trading countries be paid in gold over certain scheduled audit time, such as quaterly or annually .
If de-dollarization is successful malaysia could benefit if otherwise it's interest could be seriously impacted. Anyway the de-dollarization process is easier said than done the us is still the world's no.1 economic power whilst the brics nations are still struggling third world countries economically including the big brothers of china and india.
Agree, I would argue, acceleration of dollar is much much much more important for stability of the nation. That is why Anwar also scare his administration is threaten in Malaysia.
Interesting strategy. Trade in cheaper currency like CCP China's Yuan. Sell the Yuan in HongKong market to get USD. In the end China looses. Russia on April 10 disposed of about 320 million yuan ($46.6 million) in exchange for Western currencies.
This should put an end to rumours that Pakatan Harapan is financed by entities esp. from the US . That said , de-dollarization for Malaysia is a good thing and it is not something that is complicated to do . As Malaysia has some trade with the BRICS nations , this can be done with the Asian currency , and the same with trade with EU nations and South American nations . Malaysia will then have to trade in US dollars with fewer nations . The idea is not to put all your eggs in one basket and right now the one rotten apple in the basket is the US dollar . I hope you get my meaning on the last sentence .
China and India have more in common, if you lift the veil of antagonism and state backed prejudice. Let Asia unite❤ rather than to go into devastating conflict.
When small country are weak by USA dollars currency exchange market business profit by Americans , So the small country can support in Brics members nation by use China currency exchange market business in both sides benefit nation .
Yes. More countries should do this to prevent usa from printing money and creating wars conflicts in the world. This can only happen with the support of brics nation. If Malaysia were to do unilaterally they may end up like Iraq or Libya.
Sir good job!!! Now I have a question sir, if you want to sell your products to the nation that can afford your products and you drop the American dollar, are you going to be oblidge to pay a fee for those services plus taxes for a nation that has no connection to the American dollars?
What do you think about Malaysia's de-dollarization efforts and how they might influence the future of the global economy? Let us know down below!
Dream the impossible dream!!!
Gold coin is better. Gold lasts for thousands of years.
@@yiguang1170are you American bot? Take care your homeless in your cities first. 😂😂
nobody drop USD.. they just want to do business without depending US dollar that's all.. tbh Indonesia, Thailand, Laos and Myanmar also do the same so it's not just Malaysia..
Malaysia is anti communism
Anwar Ibrahim once said: "Kalau takut dengan risiko,Usah bicara soal perjuangan"
dang Kirito be speaking Malay
Kalau tak pandai tipu jgn jd politikus..
@@arifmantias8216 Anwar literally bawa perubahan, dari harga barang keperluan seharian, gaji bulan october ni dah naik, penjawat awam dapat lebih. Corruption makin kurang.
JAdi rakyat jgn lah tertipu dengan perjuangan Islam belah Pantai Timur tu. dah lah auta. pelan ekonomi pun takdak.
Usah kemut🤣
@@muhammad96able kepala butoh harga barang harian berubah.. berubah Naik harga adalah, tapi ade turun tak? Stop simping for clown PM...
Malaysia is doing the right thing. Kudos to PM Anwar Ibrahim.
It's called diversification. It's not totally abandoning the USD but trading with other currencies.
Hegemony is collapsing my friend but you can dress it up anyway you want if it helps you sleep better!
the word is DIVERSIFICATION ! A new word created by YELLEN instead of using DERISKING ! So a country will have a choice to deal with China using the Yuan or USD. Whatever benefits the country they will use whatever currency. Its also a geopolitical move. Malaysia will still use USD in her trade but when dealing with China Malaysia will use YUAN. In this move Malaysia still friend with the US and China at the sametime.
They'll quickly realize their mistake when they notice they're getting shortchanged in China's Yuan and find themselves in crippling debt that somehow seems to be getting bigger.
If that is what its called then it sounds like trouble. Diversity drama is a red flag regardless of context.
@@eduardochavacanoMalaysia made a smart move an idiot could see the western war complex corporation and wall street global hegemony is coming to an end in ten to fifteen years, the writing is on the wall, multipolar world is going to be a reality and USA has no mean to stop it, by year 2030 the dollar would depreciate by 30 percent or so due to dollar printing without limit and it's debt ceiling would go parabolic, USD would be just toilet paper in 20 years.
The idea is to diversify the foreign reserve so that the central bank can reduce dependency of using the US dollar
I admire our Malaysian brothers and sisters. We are with you from your ASEAN family. I am sure my country will follow suit once you will be successful
I'm convinced that pmx initiative is the right way forwad. Our currency value is heavily relies on US treasury interest rate. This hurts majority of our people as we import most of our daily needs.
Also, he pioneers the amf idea more that 20 years ago in 90s during his tenure as finance minister as an alternative to imf that caused asean country decades of lost progress due to asian financial crisis.
Please correct the star in the Malaysian flag and its logos/cutoffs.... It is a 14 point star...
Indonesia do not dump USD only use several local currencies in bilateral trade with China, Japan, South Korea, ASEAN countries .
Exactly.
More economic independence and still retain good relationship and trade with all countries.
👍👍
What Malaysia has done is to enable alternative currencies to use for trade transactions. It comes as a form of diversification.
Calling it dropping the US Dollar or De-Dollarizing is very far from the truth.
The fact is, even when companies or organizations use other currencies for their transactions, they will not hold on to those currencies.
Their reference will still be based on the USD exchange rate.
Well, let's see about that given that USD is dying and US economy is dying. Go ask brandon lol
What Malaysia need is stockpile more gold in their central bank to give their currency more strength.
Malaysia no money must ask Tun Mahathier how he is so clever
@@kahfattyue7358 previously? Yeah maybe. Now? Probably not. That old man has gone senile this recent years.
@@ZagiNoaSenile? Just bcs he's not on your side? Yeah this government is a all around hypocrite. So much for "Keadilan" lmao. You people make a mockery of democracy. You still failed to see the failures of this current government. The so-called anti corruption leader clearly tried to pull a corrupt move in Terengganu in front of the thousands of audiences for the PRN😂 What a joke. If PMX truly want to reform, kick Zahid and UMNO out of the UG and then we'll talk. Until then shut up and do as you're goddamn told. PMX should set his priority straight and put his aside his fragile ego and work together with the opposition instead of trying to screw over your every enemies.
More like REDUCE dependancy on USD not dropping.
do anyone come here after malaysia prime minister announce to join brics.
As Malaysians we prefer to be independent rather than dependent on others
Yes, agree
With China looking to own all of Asia good luck with that
@@invisiblesun6595 it not easy for that dog..
@@invisiblesun6595with USA confusing a senile old man for president? Also good luck for full throttle on dollar dependency
Hundred of Nations all over the World all jumping to BRICS. Malaysia will be in a Positive Economic Term if she start Dedollarisation. Thailand and Indonesia are doing it and joining BRICS.
Reducing imports and opening up local produce is the best way to stay out of trouble.
To de-dollarize is really a wise move. Malaysians breaks free from being controlled easily by the US.
You still need to trade due to the power of usa. Your want to sell?? How much?? Big money??? Still usa
As an ASEAN citizen, I think it should be more oriented toward ASEAN integration rather than confronting the US dollar dominance. It makes sense, we must, or maybe perfected the likes of the Euro currency strategy in an ASEAN way.
@@bobs_1429 In a matter of distinction about the face value of the Singapore Dollar, Yes, But this could be mitigated by strengthening the economics of the first countries who would like to adopt the ASEAN single currency. It would be a long process just like every single country in Europe, When they did join the EURO ZONE it is not upfront they need to join the EURO single currency.
dreaming of EURO-like currency requires a lot of trade-offs. among which, ASEAN countries cannot simply dictate their own economic future, local currencies will be abandoned, an ASEAN central bank will determine economic policies, and eventually ASEAN parliament will shape the member states' laws. These alone cannot be taken in a single measure, just look at what the EU is undergoing. Greece's debt default hit Germany and had the key to the issue of debt restructuring. ASEAN legislative and political departments will not allow it, compromising their sovereign rights and self-determination in the name of economics.
I am proud of you sir for calling out the ruling party of America. I salute you for your bravery
Main problem is that all these countries wanting to de-dollarization aren’t exactly friendly with each other and are having problems with their own economy. Big sacrifices are going to be made if they do it, are they willing to pay it?
@@SantaTakke-hu7wy Wtf, How the hell did you come to the conclusion that I’m not Vietnamese?
Speak for Vietnam only.
@@HoangTran-wu6sebecause you can't speak Vietnamese.
@@SantaTakke-hu7wy profile is fake? I don’t know I’m so handsome that people use my photo as a stock photo.🤣
@@ndorobei4391 can’t speak Vietnamese? Bro, I speak Vietnamese whenever I speak to a Vietnamese person, why the hell would I speak Vietnamese to foreigners.
Gold is the best currency ever..😊
Unless you must buy goods from the US, why use US$ at all? It's already severely affecting the worth of or exchange rate for the RM.
What to buy from the US? BBC hardcore interracial porn?
Agreed.
Confrontation with the US is unavoidable. Malaysia is now trading more with China that the US and EU. China is a more reliable partner to Malaysia. There's a huge market for Malaysia products and commodities in China compare to the US and the EU with all the conditions and restrictions they imposed on Malaysia.
A bit de-domination of dollar is necessary so that non-first world can have more say in world economy. Just don't be dumb and switch exclusively to something like yuan. The emphasis is always diversification to reduce risk.
The COST of the monentary transaction and liquidities are still the major concern. As USD are still the main currency of medium for pricing Commodities globally.
Don‘t you worry, US of America is not going anywhere, hence USD in SWIFT system. And it will still serve as a very important exchange rate bench mark internationally.
The BRICS just create an alternative payment system only, by using the dollar based bench mark, and exchange individual currency in private to save exchange lost.
US Dollar will always be in circulation because every country still trades with US, but just dropped in importance, not a prefer reserve currency thats all.
What if the USA will drop Malaysia in return.
Bravo. Support Malaysia.
LOL!!! Yeah, right…. Dream on BRICS!
4:30 diversify not dropping.
Another clickbait with another flag mistake.
malaysia biggest trade not US instead is china..why need USD..malaysian consumer also a lot using product from china and local.
exactly. no country in the world and in the right mind use the term dropping usd. i think the best term is reducing reliant on usd. diversified. not make sense to trade with usd on all the item. this should be done long time ago.
US$ serves as Medium of Exchange as well as a Weapon.
Dollar's Lord has long tenacles and their Laws can override and cripple economies.
US is a 25t economy and won't go away anytime soon.
Dedollarize is decades away.
The West shuns the word decouple instead prefer derisk, the word the EU coined and seems the better alternative.
Asian countries should begin quoting the value of their commodity in agreed regional currencies.
Pursuing alternative means for international trade settlement is the future.
China, US and Europe slowdown could erase $50 Trillion Debt Bubble in the world and can cause big depression than that of 1930s. There will lot of capital trimming, trade trimming and recognition of unrealized losses sitting in most of the banks across the globe. VC will take a hit. Salaries and Pensions would decrease by 50% and global growth will come to a standstill in the world. On top of that DeDollarization acceleration could see a fall and cause major depression. Are you ready to work after 80% paycut across the globe. Maybe NO, but sadly it will be a realty.
Malaysia economy is small and even if they dont use the USD it has no effect to the USD
America have never played the game fair, it's a good move to stop relying on USD when buying or selling stuff. For example why should we use USD to buy from China or vice versa?
It is not just about economic but culturally. The US will force any country that use their currency to adopt their woke values.
You know when another country talks about hating woke they really mean they want to legalize pedophilia.
Technically the current leader of Malaysia is part of the NED or has been supported by them through the decades so he is a bit of a US pawn though
This is what we call guts to take action
And... USA companies invest in Malaysia and put their productions in Malaysia... 🤔 (?)
Yes! Mattel is one of them.
De-dollarization is not easy as it seems, doing trade with your own currency will drive it to be printed in more volume so it will be volatile to change in value as it can drive towards inflation when more money is printed. Also the other thing I see bad on this is that basically if Malaysia and India for example do some trade, which currency will be used?! This will drive disputes between the counterparts and it will not be good to see, unless they see a way to dodge like using the Euro or Yuan 🤔
yuan more make sense since thet produce a lot affordable product.
The currency exchange rate are there between Malaysia and India already, or for any currency in the world for that matter, we just need to exchange directly between two countries without paying 3~8% dollar tax to USA.
Nothing wierd or fancy about it.
Export import payment using local currencies more profit for both countries, because not put any USD Currency risk.
@@darknight-890Yuan makes zero sense unless you want Malaysia to end up like Sri Lanka, Hong Kong and Taiwan
99% of the normal people don't care whether the local currency is replacing the USD in trading because they have no benefits from it. It means that the actual BRICS propaganda and USD weakness has no impact for them.
Malaysia and Indonesia should get the corruption under control and not thinking about the USD....
Malaysian leaders are not like that of the Philippines. Our leaders have its own people interest first. In fact our former PN Dr Mahathir was championing against the use of the US dollars during his time. But a small nation leader can only bark but no bite. Now Anwar is lucky to have BRICS nation leading the way. Good job Malaysia ❤❤❤
Dump US dollar to Yuan? Who wants to bet on a country that do not keep their promise?
China promised Malaysia to reduce trade deficit by buying more from Malaysia, and they didn't. Instead they grow their own durian, stop/reduce bird nest import.
The funny thing China buys more of Indonesian CPO and bird nest...and gave our country a total investment of usd 145 Billion for Petrochemicals, Photovoltaic, Glassware etc, alumunium , EV Batteries after his visit yesterday.
@@livingwater888 the 145 billion is just commitment, let's see whether China honour their commitment. Last check, China didn't fulfill their commitment to Trump.
@@livingwater888 Indonesia main problem is Islam. Most people are still stuck in the same old political and religious bubble. In 10 years, Indonesia will look no different than (Taliban)Afghanistan.
@@juanpablo-hz3dq dream on bro ....we are even comparable to Malaysia on Islsm. Our country moslem majority are quite tolerant and nearly liberally minded...those minority groups who wish to bring a taliban style rule is dead on arrivsl. You need to do a more deep research and not depends yourself on western media bullhorn because of our close relation to china and russia.
@@livingwater888 short answer: NO, Indonesia still has a long way to go to become a religiously tolerant country. The Indonesian government does not take it seriously this issue. they let radical Islam grow day by day, forgetting unity and humanity soon it will disappear.
European Union can develop EURO, BRICS+ would not have trouble develop own currency tie to existing BRICS vehicles.
This Asian monetary fund, and other variations of it have been mooted by ASEAN for decades. And. no, Malaysia will never abandon USD. They may use other currencies for trade purposes, but the painful 97 financial crisis is still fresh in our minds. We simply didn't have enough USD reserves to defend the ringgit from speculative attack back in 1997. Nope, contrary to what this vlog is claiming, Malaysia will not abandon the USD.
This channel is sucks. Look at the flag picture for Malaysia. Not enough star's 14 edges. That shows the level of the information confirmation also.
It's a good move Malaysia. 👍👍👏👏
Concept of Asia Monetary Fund has nothing to do with de-dolarisation.
The name itself should tell you that.
Anwar Ibrahim not stupid enough to sacrifice Malaysia 'for the sake of humanity'.
It can be a wrong move.... don't let RM drop further.
easier to say, but look at your data and metrics, the volume of currency reserves as compared to gold. traunching the US dollar will not stop, Euro, British Pound, Japanese Yen, Australian, Canadian, and New Zealand dollars as currencies of choice. There will always be a DOMINANT currency and none of it will be in BRICS currency for numerous reasons. De-dollarization will only bring a new dominant currency. BRICS's dream of a basket of currencies will work more against globalization. China and Russia serve BRICS as a platform of discord with US and nothing more. China suffering from serious deflation, and Russia with its rubble collapsing at the brink of speed, both countries are isolated.
How can Malaysia drop the dollar when 2 months ago you did a video saying Malaysia has massive dollar reserves? What will they do with that kind of reserve, trade it with other currencies? Perhaps Malaysia is simply diversifying it's portfolio and with the U.S. dollar still the most widely used and accepted currency across world trades, it is essential to keep using the currency you use with your trade partners.
Whoa, hold up! Let's talk about this funky twist! So, you know what's really discouraging? The fact that Bangladesh is being perceived as this beggar country in need of constant help, while countries like the US, with all their money and power, are the ones who'll supposedly lend a helping hand. But here's the kicker - the main point is, why should a single country, the US in this case, have control over the entire global financial system and dictate to others while dealing with their own centuries-old human catastrophes and bullying tendencies?
It's just embarrassing to see how they come in with their haughty lectures about how a country should be run. We've transformed from zero to today's bindu (point), and we're heading toward a future where we'll become a sea. But here's the catch, we need to take control of our future ourselves, not let others dictate our fate. So, let's not wait for others to tell us what to do. Let's shape our own future, be our own captains! 😄
"Bangladesh is being perceived as this beggar country in need of constant help" good observation! Bangladesh has one of the highest GDP growth rate!
@@shamimmustafa4649 Well well well, seems like Good talk!" You are achieving your ultimate desired pleasure, are you, okay dude!"🤣🤣
Yes, just stop using US DNS root. Don't get it?
Malaysia reliant more on China in trade than USA does. So by enabling RInggit Yuan direct trade would be seems more logical.
US Dollar is the current media of exchange in iternational trading. Formally it was sterline £. Any region or country can decide what to hold as International reserves and use anything other than US dollars for media of exchange for international trade but who will accept solt as mediam of exchange for international trade? Then whole world should like to accept solt as media of exchange instead of US $.
Well done Malaysia
Great ❤
thank god we have a wise leader with guts. We dont want to replace the US dollar we just want to diversity so that US can be accountable and repay all the debt they own by working harder , produce, instead of leaching on the cheap products produced by others.
good, at least we have backup. better have plan than none. because once the USD drop really bad. we all will fucked up. We Asian have to backup each others. Like a contingency plan.
As Malaysian.KL have 3 tallest skyscraper in world we event have our own pyramid but still our money 5=1$ which is not much
Widespread initiatives to shifting away from fossil fuel also helps weaken the strength & relevancy of the Petrodollar Pact.
Daring to dedollarise, Anwar is targeted to be the next victim listed of the Western hegemony.
BRICS is dead only India has what can be said to be a consumer-based society, China is aging rapidly and returns to infrastructure investments which it used to escape the 2008 crisis is not turning out to be sustainable. Russian oil sales to China and India come at a steep discount to the detriment of Russian finances. All the talk of de-dolarization is not new individual countries in ASEAN have long traded interms of each others currencies in certain situations. But no currency has the liquidity and implicit trust of large businesses to conduct international transactions other than the dollar. You ask any member of the CCP which would they rather have 7 million yuan in an offshore bank or 1 million dollars in an offhsore bank.
If you are thinking completely do away with UDS in international trade, then you are very wrong.
As long as USA is around, every country will trade with USA and hold some dollars for trading purpose. China will trade with USA and use Dollar accordingly.
However, SWIFT and Dollar are not the only system to trade, especially with 200 plus countries and areas in the world.
China has succesfully reduce USD transaction to less than 50% in her global trade last month, for the first time.
There will be a dual system internationally.
@@merrick6484 not necessarily dual more like there will be individual bilateral systems. China is doing that with many of its trading in Asia and Africa but it will not make sense for say Malaysia and the Philippines to settle in renminbi it will still be usd or a bilateral transaction
please use the right flag for Malaysia in your videos
As it is written, so it shall be done.
This is fine. The US will not be defending Malaysia's ocean trade. It's time for these countries to pay the insurance companies the real rate to insure shipments with no guarantee of U.S. Navy protection on the high seas. Let the Pirates room the seas again.
😂Malaysia don't need any protection from US.Malaysia are more focussing on his economy.And about the water trade Malaysia has deal with indonesia to protect the trade sea from pirates
Its unfortunate "dedolarization" is overdramatisation. Everyone and every country should protect its assets, againt loss and extreme volatility.
Malaysia just follows the trend of de-risking initials by the US.
Philippines has gold reserves to make Asian dollar
don't forget to prepare a parachute, because free fall from the sky hitting the earth is very painful.
it a good idea, perhaps can join brics also,increase in the buying of gold
In my own personal opinion, Malaysia economy is already not in a good shape. If they are to implement new currency system during this time, it may lead to more chaos and confusions. The new PM should first strengthen the govt, reduce corruptions, improve the economy and adopt meritocracy system in both govt and the private sector.
We have seen in Malaysia, for many years and generations, the political scenes are overwhelmed with race and religion domination struggle. By changing their momentary system, it may not do much help, instead we may see more infighting to see who can control and benefit from the new momentary system...
Im malaysian and i dont want my national currency to depending on US dollar becouse US dollar is currency were the value is depend on dept
The dropping of the dollar & the emergence of bric is caused by the attitude of the us themselves which creates the needs & opportunities for the world for a new alternatives
good review
It the ASEAN currency what Malaysia wanted rather than Brics.
The European Union had tried with the Euro but the impact has been minimal
The proper term could better be “de-Americanization”
When will Ph do the same?
It is hoped that the financial managers of the Philippines who have studied, are experts in some ways of the US financial system and are having a hard time decoupling from the US system must learn from this.
the filipinos will have a hard time not because they more or less have the same financial system as the US but due to the fact that they have this eternal colonial mentality and can't break its hold on the US apron strings.
@@rap3208 😂😂😂
I've been updated about this de-dollarization since February 2023. That time our bias local MSM did not cover that nor the bankruptcies of the major backs of USA and all the awful economic crisis of USA. It's already destruction up to this point.
We should dispose the USD. Murica is only weaponizing their USD to destroy our economy. USD is the reason for high inflation around the world. If you are updated with USA, then, you should know that US economy is dying. There were already 4 major banks like Silicon Valley that went bankrupt this 2023. USA has 100+ trillion dollars debt now and they're about to default.
FYI, Brandon aka joe biden is the most hated president in USA right now. The americans hate their government and do not trust them especially under biden admin. Thus, we Pilipinos must not trust USA. We should kick them out of the Philippines!
Let's DE-DOLLARIZE!
ASEAN.countries include Thailand, Singapore, Indonesia, and etc.
Hold RMB much safer than US, UK, Europe and Japan currencies.
It feels like a lot of people are ignorant. US raises interest rates, currencies fall, and they think it's the government's fault
Dedollarisation is inevitable as the world becomes multi polar.
I suggest international trade be done by barter trade system. The difference in monetary value between trading countries be paid in gold over certain scheduled audit time, such as quaterly or annually .
Had similar ideas to yours before. However, given that US is a fiat currency, the execution may not be fully viable.
If de-dollarization is successful malaysia could benefit if otherwise it's interest could be seriously impacted.
Anyway the de-dollarization process is easier said than done the us is still the world's no.1 economic power whilst the brics nations are still struggling third world countries economically including the big brothers of china and india.
Agree, I would argue, acceleration of dollar is much much much more important for stability of the nation. That is why Anwar also scare his administration is threaten in Malaysia.
Msia hve huge USD reserve.how they deal with this
Keputusan PM X Anwar Ibrahim menyatai BRICS terbaik insyaallah.
They must wonder if their money will be held as an investment like the dollar.
De dollarlazation, will Malaysia ringgit become same value as india rupees after 30 years ?
No it fighting, make some surplus
Interesting strategy. Trade in cheaper currency like CCP China's Yuan. Sell the Yuan in HongKong market to get USD. In the end China looses. Russia on April 10 disposed of about 320 million yuan ($46.6 million) in exchange for Western currencies.
This should put an end to rumours that Pakatan Harapan is financed by entities esp. from the US .
That said , de-dollarization for Malaysia is a good thing and it is not something that is complicated to do .
As Malaysia has some trade with the BRICS nations , this can be done with the Asian currency , and the same with trade with EU nations and South American nations .
Malaysia will then have to trade in US dollars with fewer nations .
The idea is not to put all your eggs in one basket and right now the one rotten apple in the basket is the US dollar .
I hope you get my meaning on the last sentence .
China and India have more in common, if you lift the veil of antagonism and state backed prejudice.
Let Asia unite❤ rather than to go into devastating conflict.
When small country are weak by USA dollars currency exchange market business profit by Americans , So the small country can support in Brics members nation by use China currency exchange market business in both sides benefit nation .
Don't spend the dollar in these countries
Yes. More countries should do this to prevent usa from printing money and creating wars conflicts in the world.
This can only happen with the support of brics nation.
If Malaysia were to do unilaterally they may end up like Iraq or Libya.
Sir good job!!! Now I have a question sir, if you want to sell your products to the nation that can afford your products and you drop the American dollar, are you going to be oblidge to pay a fee for those services plus taxes for a nation that has no connection to the American dollars?
Lets celebrate Malaysia Dedollariza tion
it is not as easy if you are actually become the government....the opposition only have to create fitnah...still hoping for the comeback of DSN
The Ringgit is still pegged to the US Dollar though
Monetary & Global financial systems syncronact..... what happened to Russia spook the whole world.
What is all this about? Any beginner course?
Good 👍🏻 .. why value the currency that can be printed as much as you like.. make no sense at all.
De-dollarisation of USD can only be good for the country in the long term.
Malaysia should join with Indonesia to expand the BRICS.
When talking about Malaysia, the terrace and implied Sabah, Sarawak and Brunei do not exist.