The U.S. dollar has been the dominant currency in trading for over 60 years. With world tensions the Chinese yuan has risen in popularity. According to Global Citizen, there are 27 countries in conflict around the world, due to this world superpowers, such as China, has risen up in power.
With China rising up in power many countries, such as Russia, are changing the main trading currency. The cause of Russia’s sudden change in their main trading currency is the Moscow invasion of Ukraine. The U.S. trade with Russia is important to the economics of the U.S. Without it China can become the most traded country with Russia, another superpower country.
According to the World Integrated Trade Solution, Russia’s main importer and exporter is China, while the United States is the third exporter. China is the number one trading country in the world, according to the United States Census. China has become a super power in trade, a country that is necessary for most of the world because of the amount of trade coming from there. Every year China makes about three billion dollars from exports.
Even though Russia has switched to mainly trading with China the U.S will still get Refined Petroleum from Russia. Refined Petroleum is used for everyday necessities like transportation and heating. It is important to bring in this fuel because the U.S does not have enough of it to allow the U.S to power the way it does now. Without trade, countries would not advance.
