In yet another major blow to the United States dollar hegemony, the Association of Southeast Asian Nations (ASEAN) has now formally ditched the dollar in trade in favor of their local currencies.
JUST IN: 10 ASEAN Countries To Ditch the US Dollar.
"The Association of Southeast Asian Nations (ASEAN) countries are looking to promote local currencies for trade and ditch the US dollar for cross-border transactions."https://t.co/lzB2UAXj0U
— BRICS News (@BRICSinfo) May 21, 2024
ASEAN comprises 10 different Asian nations, which include: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam; with Australia and New Zealand also working closely with this association via new a free trade agreement pact established in November, 2022. Subtract Australia and New Zealand, and ASEAN affects over 600 million people and is one of the worldâs largest economies.
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