GET RID OF THE DOLLAR LOCAL CURRENCY TRADING has STARTED in ASEAN

Recent developments indicate that ASEAN countries are actively seeking to reduce their reliance on the US dollar and strengthen local currency settlements through increased cooperation. After concluding his visit to China, Malaysian Prime Minister Anwar Ibrahim mentioned that discussions had taken place with China regarding the establishment of the Asian Currency Fund and negotiations for local currency settlements. During a meeting in Indonesia, ASEAN finance ministers advocated for reducing dependence on major currencies and announced plans to expand local currency trading systems. These statements and actions demonstrate the ASEAN countries pursuit of reduced reliance on the US dollar and their commitment to enhancing local currency settlements. Indonesia has taken the lead by initiating concrete measures to shift towards local currency settlements with countries such as China, Japan, Malaysia, and Thailand, with negotiations underway with South Korea. Publicly released data reveals