1. At present, the US dollar is the liquidity medium of global trade, which is actually the real cause of the current global economic crisis. Because the amount of dollars, or the amount of dollars used in the international trade payment system, is actually not enough. The reason is that the increase of world trade volume, especially that of China, takes up a lot of liquidity in capital market, foreign exchange market, national debt market, commodity futures market and gold trading market. Therefore, China and other countries suggested that the International Monetary Fund establish a new international monetary payment system, including changing the weight of currencies in the SDR. In a word, RMB, as a means of payment in international trade, is a supplement to the existing international monetary system and can make up for the structural shortage of dollar liquidity.
Some scholars believe that the United States will not allow the dollar to be shaken as an international currency. But objectively, any currency needs many important processes to become an international currency, such as the opening of exchange rate and capital market. At present, only Japan, the euro zone, Britain and Australia can ask for payment in local currency. There is still a long way to go before RMB becomes a means of payment for global international trade. More importantly, if RMB really becomes a common means of payment in international trade, it will have a far-reaching impact on the international status of the US dollar. However, the significance of this impact on the healthy operation of the international economic system may still be very uncertain.
3. As the payment currency of international trade, RMB has many benefits for China, and China is also making efforts in this direction. Some countries have reached an agreement with China to use RMB as the payment currency for trade, but the total amount accounts for only a small part of China's total import and export trade.
4. Personally, I feel, rather than predict, that RMB may become an international currency like Japanese yen, euro and Australian dollar in 10, that is, any institution can ask for payment in RMB. In 20 years' time, China may be able to force all its trade with China, whether import or export, to be paid in RMB. -It's just a feeling, or a wish.