Dollar-Yuan Battle in the World Trade Network - Archive ouverte HAL
Article Dans Une Revue Entropy Année : 2023

Dollar-Yuan Battle in the World Trade Network

Résumé

From the Bretton Woods agreement in 1944 till the present day, the US dollar has been the dominant currency in the world trade. However, the rise of the Chinese economy led recently to the emergence of trade transactions in Chinese yuan. Here, we analyze mathematically how the structure of the international trade flows would favor a country to trade whether in US dollar or in Chinese yuan. The computation of the trade currency preference is based on the world trade network built from the 2010-2020 UN Comtrade data. The preference of a country to trade in US dollar or Chinese yuan is determined by two multiplicative factors: the relative weight of trade volume exchanged by the country with its direct trade partners, and the relative weight of its trade partners in the global international trade. The performed analysis, based on Ising spin interactions on the world trade network, shows that, from 2010 to present, a transition took place, and the majority of the world countries would have now a preference to trade in Chinese yuan if one only consider the world trade network structure.
Fichier principal
Vignette du fichier
dywtnARXIV.pdf (3.11 Mo) Télécharger le fichier
Origine Fichiers produits par l'(les) auteur(s)

Dates et versions

hal-03879409 , version 1 (30-11-2022)

Identifiants

Citer

Célestin Coquidé, José Lages, Dima Shepelyansky. Dollar-Yuan Battle in the World Trade Network. Entropy, 2023, 25 (2), pp.373. ⟨10.3390/e25020373⟩. ⟨hal-03879409⟩
48 Consultations
35 Téléchargements

Altmetric

Partager

More