The path towards ending dollar hegemony is already well under way, with China set to both enter into the SDR, and expand its use in global trade settlement. But for countries that are cash strapped and wanting to transition away from the reserve currency, short and mid-term alternatives may be necessary to aid in the transition of a post-dollar world.
And China is currently in the process of implementing them.
Earlier this year the creators of the Silk Road initiative came to an agreement with the Thai government to build and expand their rail infrastructure using barter rather than dollars, and this, along with the implementation of a gold yuan currency, could be the blueprint for keeping the global economy going during the transition.
In his March interview with CCTV the geostrategic analyst highlighted that China is "facilitating trade and development for Third World nations in ways major Western funders could not." Beijing is interested in boosting logistic networks in Eurasia and therefore it founded the Asian Infrastructure Investment Bank (AIIB) to fund the projects.
Furthermore, "China may also offer barter trades in lieu of cash transactions for rail infrastructure projects, as was the case with Thailand. It seems to work. For cash-strapped economies, barter may emerge as an essential instrument of regional economic stability and a 'gold yuan' may help facilitate such a paradigm shift," Maavak elaborated speaking to Sputnik. - Sputnik News