Asia Morning Overview: China’s Automobile, America’s Currency — The role of stablecoins in maintaining dollar dominance

In emerging markets, retail consumers increasingly choose Tether’s USDT for its stability compared to the Chinese yuan. Despite China’s push for de-dollarization, USDT maintains significant traction as a preferred transaction tool.

While China holds strong in exports to Latin America, it struggles to assert monetary influence. The shift towards crypto-dollar systems supports a grassroots re-dollarization that continues to uphold the US dollar’s global dominance.