The 20th is the day of the handover of American power. According to the Engaged Times, the European Commission published a draft policy, which warned that the global market relied too much on the US dollar in the past. At the same time, the EU itself will reduce its dependence on the US dollar in the future. On the one hand, it can reduce US sanctions against Europe. On the other hand, the EU hopes to grow up in the financial field and reduce its vulnerability to financial risks. At the same time, after experiencing the COVID-19 epidemic that is still spreading, the EU also hopes that through this policy, the euro will play a greater role in the face of major public health events.

During Trump's four years in power, his dollar policy has been emphasizing the dominant position of the dollar, not only the dollar, but also the dominant position of the United States in the world. The European Commission is very disappointed with this policy. Biden, who has always been friendly with the United States, is about to take office, and the European Union has begun to make moves against the dollar. Reducing dependence on the dollar can be said to be a snake out of the hole, and a seven-inch master is fatal.

Due to the long-term "ally" relationship, the EU has a thorough observation and understanding of the United States. Therefore, the EU decided to attack from the financial sector, which is also the fate of the United States. There are two pillars for the United States to dominate the world, one is the US dollar, and the other is the US military. If the US military wants to be strong, it needs to spend sky-high military expenses, so if the US dollar wants to run rampant in the world, it must have support and dependence.

For a long time, the EU has been looking for ways to expand the use of the euro. They began to look for opportunities to increase the use of the euro in some strategic industries, such as energy, commodities and aircraft manufacturing. The European Commission believes that letting the euro play a greater role can reduce dependence on other currencies, especially the US dollar, and reduce the impact of foreign exchange.

The European Union has developed a euro payment system to counter US sanctions. This is a problem left over from history, and even if the United States changes its president, this problem will be solved. Second, continuously strengthen the euro's foreign exchange reserves. In terms of foreign exchange reserves, the United States accounts for 60%, while the European Union only accounts for 20%, which is far from enough. Interests first, the United States will continue to create new financial risks in the future. The draft policy was passed the day before Biden took office. Through this plan, we will gradually establish a competitive international market, reduce the monopoly position of the US dollar, and enhance the stability, flexibility and diversity of the international economy.