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A new trend is now gaining rapid momentum among the ASEAN nations. This new trend involves paying in local currencies during travel or vacations, an area where the US dollar once reigned supreme. Moreover, the travellers in ASEAN are now paying in Chinese Yuan, a new currency alternative, which is a stark USD competitor. With this new change in the traditional financial hierarchy, the US dollar is standing at the edge of change, with forces trying to uproot the US dollar for good. Also Read: Bank of America Warns US Dollar Is Summer’s Biggest Pain Trade ASEAN Says No To The US Dollar Source – Eye on Asia ASEAN nations have now started to document a new change in their financial regimes. This change involves increased usage of USD alternatives such as the Chinese yuan or other native ASEAN currencies to transact within the region. The reason for this rapid change can be attributed to the US dollar’s weakening global influence amid aggressive tariff threats and currency weapon...

The US pressed sanctions on Iran and Russia severely affecting the economies of both countries. China has been their ally and regularly initiates trade deals to keep their economy afloat. From procuring oil to natural resources and minerals, the Communist country has provided a steady source of business worth billions. However, the sanctions are making it harder for Iran and Russia to lift their economies and their GDP is affected. Also Read: Jim Cramer Called XRP a Con, Here’s What a $1,000 Bet Then Is Worth Today US Sanctions Must End: Demands China, Russia, and Iran Source: cspforum China, Russia, and Iran held a trilateral meeting in Beijing and called for an end to US sanctions on Tehran. They called the White House’s order “illegal, unilateral sanctions” that have no place in modern times. “We conducted in-depth exchanges of views on the nuclear issue and the lifting of sanctions. We emphasized the necessity of ending all illegal unilateral sanctions,...