“The possible conversion of loans from dollar to the Chinese Yuan could set an example for other countries to follow who may also be in debt in dollar terms, and they would want a way out. So that in itself is not very healthy to the international financial institutions that depend on people having loans or countries having loans and to be paid in the US dollars [...] De-Dollarization would tend to bring the Global South, countries in the Global South closer in terms of articulation and collaboration on matters of trade, investment, and even diplomatic engagement. The influence or the power of the United States would be thereby diminished economically and with more freedom to other countries apart from the conceptual West. So it might mean more and more freedom of operations in international affairs than what may be going on today [...] The increase of the choices is an empowerment process that many countries would want to have, and a country like Kenya or Ethiopia would be making the right direction,” the professor pointed out.
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