Jennifer Montoya Madrigal

La arquitectura financiera se encuentra en un proceso de transformación. En el 2008 con el debilitamiento y la pérdida de confianza en el dólar, el Presidente del Banco Popular de China dijo el 23 de marzo del 2009 que el mundo necesitaba una nueva moneda de reserva, ante la inestabilidad de esa moneda en el mercado cambiario, fruto de la crisis de setiembre del 2008. Nuevamente en el 2013, los impasses fiscales en el Congreso de EEUU llevaron a que el gobierno de China llamara a buscar una nueva moneda de reserva internacional. 

In October 2008, following the instability and uncertainty caused by the U.S. financial crisis, the central banks of Brazil and Argentina signed a payment agreement in local currency. This was later extended to Mercosur countries. Since then, this mechanism has been replicated and extended by the BRICS. This article will analyze the alternatives that have arisen due to the instability of the dollar and the sanctions imposed by the US on 26 countries. It is an alternative to using the dollar as a means of payment and as a reserve unit.

President Trump's return to power means the return of anti-immigrant policies. Measures against the undocumented population will impact the amount of remittances sent to Latin American and Caribbean countries. ad. Remittances represent an important percentage of the region's International Reserves and GDP.

After Trump's return, the US has pushed a policy of budget cuts, economic deregulation, and trade war against its main partners: Canada, Mexico, Taiwan, and China. The explicit objective is to strengthen the US economy, and the implicit objective is to weaken China and its allies. After two and a half months in office, the effect has been negative on neighboring countries and has forced the Asian giant to take countermeasures.

In 2024, the price of gold increased significantly, driven by China, which reduced its holdings of U.S. Treasury bonds and expanded its gold reserves. In the same vein, interest rates have fallen globally, which also boosts the price of gold. On the other hand, demand for the yuan as an exchange currency in intra-Asian trade has grown, especially in transactions between the Red Dragon and its trading partners or with countries sanctioned by the U.S., such as Russia, which reduces the use of the dollar. On the other hand, demand for the yuan has increased for international trade as a result of Washington's sanctions against 26 countries, showing a loss of the dollar as a medium of exchange. This article will analyse the rise in the price of gold during 2024, driven by the strategies implemented by the People's Bank of China (BPdeC), such as the issuance of dollar bonds and whether they consolidate the yuan as a reserve currency and turn the country into a global financial power.