US-China Trade Tensions May Prove Lucrative For ASEAN: Impact On USD?
The US presidential campaigns are inching towards their final stage, and their political undercurrents are shaping world economics. Former US president Donald Trump has already announced a trade war, adding that he may impose tariffs on countries moving away from the US dollar. If Trump is elected, his move could significantly bolster trade tensions with China, indirectly putting ASEAN under the central trade spotlight. Also Read: Ripple: ChatGPT Predicts XRP’s Price Outcome For October 2024 US-China Trade Tensions: What’s Happening? The US-China trade scenario is undergoing a transformative change. China is an active part of the BRICS alliance, which aims to derail the US dollar for good. At the same time, the coalition is also pioneering unique collaborations to carve its own independent identity while developing a currency system that directly challenges the prestige of the US dollar. However, political undercurrents are heating up the global trade scenario after US President D...