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For a long time, the world monetary system has been dominated by the US dollar, although Japan has made great achievements in economic reconstruction after World War II and its position in the foreign exchange reserves of various countries has gradually increased.

But the bursting of Japan's economic bubble ultimately prevented the yen from replacing the dollar.

Since the beginning of the 21st century, the rapid rise of China's economy has made our country the world's second largest economy, and the international status of the RMB has been increasing day by day.

In recent times, the changes in the international situation have had an effective impact on the US dollar hegemony system. At a time when the US dollar, euro and ruble are fighting fiercely, will the RMB win in the chaos?

1. US dollar hegemony

The two world wars attacked many old capitalist countries in Europe, but the United States, with its advantageous geographical location, rose rapidly in the war. In 1919, the total foreign trade of the United States accounted for 40% of the world's total trade!

The strong national economic strength has given the strongest support to the US dollar to replace the British pound as the world's currency hegemon.