Blow to the DOLLAR: China and Saudi Arabia united | m Bridge project

🌟 Welcome back to the Motivate Mindfulness, 🌟 In this episode, we delve into a significant shift in the global economy as Saudi Arabia reduces its reliance on the US dollar by joining China’s mBridge project. This initiative explores the use of Central Bank Digital Currencies (CBDCs) for international payments and settlements, potentially decreasing the dominance of the US dollar in oil trading. We discuss the implications of Saudi Arabia’s involvement in mBridge, a project initiated by the Bank for International Settlements in collaboration with the central banks of China, Hong Kong, Thailand, and the UAE. With the project reaching its Minimum Viable Product (MVP) stage, it marks a major milestone in the evaluation of CBDCs for cross-border payments and trade. This episode examines the broader impact of this shift on global finance, exploring how reduced dependency on the US dollar and the rise of digital currencies could reshape international trade. We highlight the hi