This currency thing, it seems to me, that is really serious stuff. Realized that this afternoon.

A couple of facts we should keep in mind.

First of all, the US Dollar is the reserve currency of the world.

Second of all, the purpose of dollar hegemony is keep the value of the US dollar high.

What does this mean when the ASEAN countries want to coordinate the usage of their own currency?

This is not a new idea, this has already been going on in Europe with the Euro.

Back in the old days, with how Japan, South Korea, and others in Asia, how closely tied their economies with the United States, those countries in the United States economic sphere was called the dollar block.

https://dictionary.cambridge.org/us/dictionary/english/currency-bloc

I suppose we could call the Euro the Euro block, etc.

What ASEAN seems to be moving towards is a Yuan centered block.

This brings up rather curious questions.

The Yuan is still pegged to the US dollar.

With this peg, and that ASEAN wants to anchor their currencies to Yuan (Russia too), that kind of means the US dollar is the reserve currency of the world, but the Yuan will be a co-reserve currency of the world.

Ironically, China with the Yuan, will not share any responsibility of being a co-reserve currency, those benefits and headaches will remain with the United States.

Then it gets really curious.

What is the value of the US dollar? The value is the peg to the Yuan, which China alone sets. But in the future, who knows, maybe they will take opinions between ASEAN and China, because now they are moving to a currency block with Yuan at the center, so whatever happens to the Yuan will be affecting the countries.

In other words, this budding currency block in Asia, could hold a hammer over the value of the US dollar.

I think we should follow this currency news very closely and carefully.