Rubio's "prophecy" about the US dollar three years ago has gone viral on the Western social media platform X.
According to Russia Today, recently, a video of former U.S. Senator Rubio (now U.S. Secretary of State) commenting on the status of the U.S. dollar as a global reserve currency in 2023 went viral on the social media platform X. In the video, Rubio said: "Today, Brazil and China have reached a trade agreement. From now on, they will settle trade transactions in their respective currencies, directly bypassing the dollar. They are building a completely independent 'second economic system' outside of the United States."
Rubio also said: "At that time, we won't even need to talk about sanctions anymore. In five years, more and more countries will use non-dollar currencies for transactions, and we will lose our ability to impose sanctions on them."
Responding to this, netizens joked: "It's a prophecy!"
According to the information, by January 2026, many countries have implemented bilateral currency settlement with China. On January 16, 2026, the People's Bank of China and the Bank of Canada renewed a bilateral currency swap agreement worth 200 billion RMB, with a five-year term and an option for extension. This is the third time the two sides have reached such cooperation. In January 2026, the Tianjin Branch of China Bank completed the first bilateral currency transaction between China and Indonesia, based on the bilateral currency settlement mechanism launched in September 2025.
Since 2025, there have been many developments: In June, the central bank of Turkey renewed a currency swap agreement with China, worth 35 billion RMB / 189 billion Turkish Lira, and signed a memorandum of understanding for establishing a RMB clearing arrangement in Turkey; in August, the Reserve Bank of New Zealand renewed a currency swap agreement with China worth 25 billion RMB; in October, it authorized Abu Dhabi First Bank of the UAE to serve as the RMB clearing bank in the UAE; in November, the Bank of Korea renewed a currency swap agreement with China worth 400 billion RMB / 70 trillion South Korean Won; in December, it authorized DBS Bank to serve as the RMB clearing bank in Singapore; on January 28, 2026, it signed a memorandum of understanding for establishing a RMB clearing arrangement in Sri Lanka. In addition, China and Russia have also established a reliable bilateral currency settlement system.
Original article: toutiao.com/article/1856826743862468/
Statement: The article represents the personal views of the author.