Overview

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In a new statement released by the CME, the organization has called for ASEAN to curate a new currency system, “based on a new commodity standard,” that can compete with Euro and USD directly. ASEAN local currencies trade initiatives are gaining significant momentum as Southeast Asian nations face brand new U.S. tariffs. The 10-nation bloc is actively Amid debt-ceiling crisis, the issue of de-dollarisation by ASEAN countries looms over the United States. 10 ASEAN nations are on the verge of de-dollarisation. The members of the ASEAN have agreed to promote their native currencies. The global superpower- the United In a new statement released by the CME, the organization has called for ASEAN to curate a new currency system, “based on a new commodity standard,” that can The ministers and governors are exploring the possibility of establishing a new currency that would be used for intra-ASEAN trade and investment. This move is in line

10 ASEAN Countries to Launch New Currency: Challenging the US Dollar & CME Response

The winds of change are blowing in Southeast Asia! Amid the debt-ceiling crisis, the issue of de-dollarisation by ASEAN countries looms over the United States. 10 ASEAN nations are on the verge of de-dollarisation, actively seeking alternatives to reliance on the US dollar. The members of the ASEAN have agreed to promote their native currencies, and the potential for a unified currency is gaining traction.

ASEAN's Push for Currency Independence

For some time, ASEAN local currencies trade initiatives are gaining significant momentum as Southeast Asian nations face brand new U.S. tariffs. The 10-nation bloc is actively working to reduce its dependence on the dollar in trade and investment. The global superpower - the United States - is facing a potential shift in the global economic landscape.

A New Currency System for ASEAN?

The ministers and governors are exploring the possibility of establishing a new currency that would be used for intra-ASEAN trade and investment. This move is in line with a broader trend of nations seeking greater economic autonomy. This potential new currency aims to streamline trade and investment within the region, reducing reliance on external currencies and their associated exchange rate fluctuations.

CME Weighs In: Calls for a Commodity-Based Currency

In a new statement released by the CME, the organization has called for ASEAN to curate a new currency system, “based on a new commodity standard,” that can compete with Euro and USD directly. This is a significant development, suggesting that the establishment of a stable and reliable currency requires a strong foundation, potentially linked to the region's abundant natural resources. In a new statement released by the CME, the organization has called for ASEAN to curate a new currency system, “based on a new commodity standard,” that can compete with Euro and USD directly.

Implications for the US Dollar and Global Economy

The potential launch of a new ASEAN currency has far-reaching implications. A successful alternative currency could challenge the dominance of the US dollar in international trade and finance. Whether based on a commodity standard or another mechanism, the ambition to create a currency system rivaling the Euro and USD is ambitious but also represents a significant step towards economic independence for the ASEAN region. The ongoing discussions and initiatives are crucial to watch as they unfold, as the decisions made by the 10 ASEAN countries could reshape the global financial landscape.

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