According to Taiwan's "China Times News Network" on January 25th, there has been a global wave of de dollarization, and according to the Atlantic Council of the United States, the Federal Reserve "has a certain responsibility" in promoting the trend of de dollarization.

According to a report by the US Business Insider website, the Atlantic Council, a US think tank, has released a report stating that the Fed's interest rate hike has led to higher borrowing costs in the US dollar, prompting emerging market companies to seek alternatives to the US dollar, mainly the renminbi. At present, short-term borrowing in RMB is cheaper than short-term borrowing in USD, which is attributed to the Federal Reserve's significant interest rate hike, raising the interest rate from near zero in 2022 to 5.25% -5.5% in 2023.

The report states that the US dollar, as a reserve asset, accounted for nearly 80% of global reserves in 1970, but by 2020 it had dropped to 59%.

The Atlantic Council of the United States also stated that the proportion of global payment settlements using the Chinese yuan increased from 1.91% in early 2023 to 4.61% in November of the same year. More importantly for China, about half of its bilateral cross-border trade and investment transactions are currently settled in RMB, which reduces its vulnerability to financial sanctions against the United States.

Researchers believe that it can be expected that the use of the renminbi in international trade will continue to increase.