I have been following this currency-drama in China and the US as well for a few years.
Regarding the Yuan my opinion is as well that it is right now undervalued. But there are lots of bad debts as well in China... So not sure how this will end...
Saudi-Arabia I think will never accept the Yuan, because if they do they will loose the US-backing and might be declared a terrorist state. The last thing the house of Saud needs right now is loose the US as a backer...
Venezuela on the other side (i.e. the government there) has nothing to loose... that is why they try to do this attack. It will be interesting to see if they follow through...
Thanks for your great comments, really refreshing compared to the bot comments...
Haha thanks, I am new here and will soon be starting to write some of my own posts with my own ideas and observations and try to look at things from an 'outside the box' perspective. Nothing right or wrong, just ideas and perspectives.
Absolutely agree on it being very hard for Saudi Arabia to accept the Yuan. I think a lot of things may be done 'under the table', until the Yuan is ready to take on a larger role, as of yet it still has a long way to go. Any nation in a similar position would be foolish not to at least make some kind of preparations, as Germany has publicly announced they are currently doing, even with a large US base on it's soil. Nothing lasts forever and that goes for the dollar also, I think by at least 2030 every nation will accept the Yuan in some amount, even if they are still using the dollar, if it's still around in its current form.
In light of what Venezuela is trying to do I'm going to be writing a piece about the top candidates around the world with rampant inflation who might also wish to follow in their footsteps.