Exclusive: Analyst Exposes China’s Covert Plot to Undermine the US Dollar Dominance

China's financial chess move just got exposed—and the dollar's in check.

Behind closed doors, Beijing's playing the long game to dethrone the greenback. No gold-backed yuan announcements or SWIFT takedowns—just quiet, calculated strikes at dollar hegemony.

The playbook? Petro-yuan contracts, digital currency bridges, and that Belt-and-Road debt diplomacy that keeps Treasury officials awake at 3 AM. Meanwhile, Wall Street still thinks CBDCs are just blockchain buzzwords.

One hedge fund quant muttered over his $28 artisanal coffee: 'They're weaponizing monetary policy while we're still arguing about Fed rate cuts.' Ouch.

Analyst Breaks Down China’s Recent Financial Call

A noteworthy handle on X, China Banking News recently decoded how China is secretly vying for the US dollar to fall. In its latest post, the governor of the People’s Bank of China, Pan Gongsheng, has voiced a new narrative for the world to follow. This narrative includes embracing the multipolar currency system, where a plethora of new currencies can be explored by nations across the world.

Gongsheng later shared a stark opinion, adding how the world should not depend on a singular currency for trade. He later stated how the world should adopt the multipolar currency narrative, where a strong number of sovereign currencies can engage in healthy competition.

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"The multi-polarised development of the international currency system will help to raise its resilience and more effectively preserve global economic and financial stability,” Pan said.

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In a pointed dig at the US dollar's dominance of the global monetary system, Pan called for the world to "weaken excessive dependence on a single sovereign currency and its negative effects."

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Why Should The World Adopt A Multipolar Currency Approach?

PBOC chief later clarified how this system can help “preserve global economic and financial stability.”

In addition to this, China has also been diversifying away from the USD as of late.

China is diversifying its currency reserves out of the US Dollar:

The share of US Treasury Holdings in total Chinese FX reserves has declined by ~15 percentage points since 2016, to ~22%, NEAR the lowest in at least 15 years.

Over the same period, gold's share has risen ~5… pic.twitter.com/uFa5bQTucg

However, Gongsheng does not intend to put Yuan in the center, considering its smaller market portion. He is simply propagating a new currency order where all sovereign currencies can coexist and evolve at the same time.

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Given his explicit aversion to a single nation-state providing the global reserve currency, however, Pan does not advocate that the Chinese yuan replace the US dollar in its hegemonic monetary role.

USD Is Plunging At A Rapid Pace

The US economic developments, coupled with Trump’s aggressive tariff regimens, have taken a toll on the US dollar. The dollar has plunged dramatically over the next few months, with Bloomberg predicting the currency to shed 10% in the next 12 months.

The US Dollar is worth 10.1% less than it was at the beginning of the year. pic.twitter.com/THebkw7FRS