China's real plan for the dollar - Yanis Varoufakis & Wolfgang Munchau | The Econoclasts
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As you may have guessed from our strange spelling, UnHerd aims to do two things: to push back against the herd mentality with new and bold thinking, and to provide a platform for otherwise unheard ideas, people and places. We think this approach is more needed than ever. Societies across the West are divided and stuck, and the established media is struggling to make sense of what’s happening. The governing ideologies of the past generation are too often either unquestioningly defended or rejected wholesale. It’s easy and safe to be in one or other of these two camps – defensive liberal or angry reactionary - but UnHerd is trying to do something different, and harder. We want to be bold enough to identify those things that have been lost, as well as gained, by the liberal world order of the past thirty years; but we strive to be always thoughtful rather than divisive. Welcome to UnHerd. We hope you find something that makes you think again. https://linktr.ee/unherdtv
Video Description
📰 Subscribe to UnHerd today at: https://bit.ly/3Qdkd5y 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/ Listen to the podcast: plinkhq.com/i/1685475850 Follow UnHerd on social media: Twitter: https://x.com/Econoclasts Facebook: https://www.facebook.com/unherd/ Instagram: https://www.instagram.com/unherd/ TikTok: https://www.tiktok.com/@unherdtv //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? 22:45 - 23:15 - Closing thoughts #UnHerd #dedollarisation #China
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