亚洲“渐别”美元，人民币作用凸显

Core Viewpoint - The trend of de-dollarization is gaining momentum among various countries, particularly in Asia, driven by factors such as trade agreements and increased investment in alternative assets like gold and digital currencies [1][3]. Group 1: Indicators of De-dollarization - A recent study by Forex Complex identified three main indicators of de-dollarization: the decreasing share of the dollar in national reserves, the increasing share of gold, and the growing use of alternative currencies in bilateral trade [3]. - Countries like Singapore, Indonesia, and Japan are leading the efforts in de-dollarization, indicating a systematic shift away from reliance on the dollar [3]. Group 2: Regional Developments - ASEAN has established an agreement prioritizing local currency transactions to mitigate risks associated with U.S. monetary policy changes and trade restrictions [3]. - Indonesia has reported that approximately 15% of its trade with China and Japan is conducted using alternative currencies, including the use of the Indonesian rupiah for transactions with Japan [3]. Group 3: Impact of the Pandemic - The trend towards reducing dependence on the dollar has become particularly pronounced following the COVID-19 pandemic, as many Asian countries seek to lessen their reliance on a dollar-denominated financial system [5]. - The rise of the Chinese yuan is notable, with China establishing closer ties with ASEAN and Middle Eastern countries through yuan-denominated trade [5]. Group 4: Current Currency Shares - As of March, the yuan accounted for approximately 4.1% of global payment shares, significantly lower than the dollar's 49%, but its growth potential is considerable given China's economic size and growth prospects [5].