Asean+3 may add the Chinese and Japanese currencies into its buffer fund, a sign of Asian nations’ move to reduce reliance on the US dollar. Photo: Reuters

Is US-China trade war starting to erode US dollar dominance?

  • Asean+3 is considering adding yuan and yen to their regional forex reserves pool safety net
  • Analysts say shift to reduce US dollar dominance is underpinned by expectations that trade war will cause shift in consumption and investment patterns away from globalisation
Topic |   US-China trade war

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Asean+3 may add the Chinese and Japanese currencies into its buffer fund, a sign of Asian nations’ move to reduce reliance on the US dollar. Photo: Reuters
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China holds the biggest volume of US Treasuries in the world, at US$1.123 trillion. Photo: Shutterstock

Will China use its US$1.2 trillion of US debt as firepower to fight the trade war?

  • Fears are mounting among investors and analysts of potential adverse effects on global economic growth as China promises to strike back after US raised tariffs
  • Uncertainties on how escalating tensions will unravel have hurt markets this week
Topic |   China economy

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China holds the biggest volume of US Treasuries in the world, at US$1.123 trillion. Photo: Shutterstock
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