世界在用脚投票，有什么好惊诧的

Core Viewpoint - The issuance of sovereign bonds denominated in RMB by Russia marks a significant step in the internationalization of the Chinese currency, reflecting a growing trend among countries to utilize RMB for trade and investment purposes [1][3][4]. Group 1: RMB Sovereign Bonds - Russia's Ministry of Finance will issue its first sovereign bonds in RMB on December 8, with subscription registration starting on December 2 [1]. - Other countries, such as the UK and Indonesia, have previously issued offshore RMB sovereign bonds, indicating a broader acceptance of RMB in global finance [1]. Group 2: Global Financial Dynamics - The increasing attractiveness of the RMB is seen as a challenge to the US's dominance in international finance, with some Western media framing it within a geopolitical context [3]. - Analysts suggest that Russia's decision to issue RMB bonds is driven by a significant trade surplus with China, a large holding of RMB by Russian exporters, and the inability to secure financing in USD or EUR due to fiscal deficits [3]. Group 3: Economic and Market Factors - The choice of currency for transactions is fundamentally based on rational economic decisions, such as optimizing portfolios, diversifying risks, and preserving value [3]. - The international status of a currency is determined by economic strength, institutional trust, and market acceptance, rather than self-proclamation or negative narratives [4]. Group 4: Shift in Global Currency Landscape - The dominance of the USD has been challenged by its use in financial sanctions, leading to increased skepticism about its safety and prompting countries to seek alternative currencies for asset security [5]. - The global financial ecosystem is evolving from a USD-centric model to a multi-currency system, reflecting a desire for stability and risk diversification among investors [5]. Group 5: Future Outlook - The ongoing evolution of the international monetary system is expected to continue as China's economic power grows and its financial markets open up, suggesting a promising future for RMB assets on the global stage [5].