Lots More on China's Moves to Create a Dollar Alternative
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 26 January 2024
⏱️ 33 minutes
🧾️ Download transcript
Summary
For years, people have been talking about the end of US dollar dominance or how some other currency could usurp its role around the world. But when it comes to global finance and trade, the dollar is as dominant as ever. Given the size of China's economy, the renminbi is considered one potential challenger. And in fact, China is making real moves on this front. On this episode of Lots More, we speak with Zongyuan Zoe Liu, the Maurice R. Greenberg fellow at the Council on Foreign Relations and the author of a recent article on China's de-dollarization efforts. As she sees it, the rise of a new energy and commodity system — one that is breaking away from oil — creates the opportunity for markets that are denominated in something other than dollars. Meanwhile, China, having seen Russia get cut off from the dollar system, has an increased incentive to protect itself from a similar fate. We discuss the prospects of a major change and how China could benefit, as well as the risks. We also discuss the current state of Chinese macro.
See omnystudio.com/listener for privacy information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | At Public.com, you can earn 5.1% APY with a high-yield cash account. |
| 0:05.6 | No strings attached. Public.com, 5.1% APY as of December 2023 and subject to change, |
| 0:12.2 | disclosures and podcast description |
| 0:13.7 | US members only. |
| 0:14.7 | Hi there it's Jill Wiesenthal and Tracy Allaway the co-hosts of the |
| 0:19.1 | Oddlots podcast. If you're a fan of our coverage on things like auto clean energy markets there's a new show from |
| 0:26.3 | Bloomberg Business Week that we want to tell you about Elon Inc |
| 0:30.3 | every week hosts David Popidopolis and a panel of Bloomberg journalist will help you make sense of Elon Musk's latest actions and antics and the surprising way his companies intersect. |
| 0:40.4 | Musk has amassed a shocking amount of power and influence in a few short years. |
| 0:45.2 | His companies are altering the course of energy, the energy transition, transportation, public |
| 0:50.8 | discourse, and even wartime communications. |
| 0:53.0 | He's really become the biggest story in business and that's where we come in. |
| 0:57.0 | Yep, you can listen to Elon Inc. from Bloomberg Business Week on Apple Podcast, Spotify, I-Heart, or wherever you get your podcast. |
| 1:05.6 | We never ever have had guests bringing treats for us and now this is two days in a row. |
| 1:10.4 | No kidding! Yeah, this is incredible. This never happens. This is no two-day. a no |
| 1:15.0 | two days in a row, this is no two days in a row, and guess bringing in sweets for it. |
| 1:17.0 | That's awesome. |
| 1:18.0 | Thank you so much. |
| 1:19.0 | Which makes us very popular in our row |
| 1:20.0 | because then we'll share them with all of our colleagues. |
| 1:23.3 | Thank you so much. |
| 1:24.4 | Oh, I can't wait. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Bloomberg, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Bloomberg and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.