Dollar-Yuan Battle in the World Trade Network
| Autor: | Célestin Coquidé, José Lages, Dima L. Shepelyansky |
|---|---|
| Přispěvatelé: | Univers, Transport, Interfaces, Nanostructures, Atmosphère et environnement, Molécules (UMR 6213) (UTINAM), Institut national des sciences de l'Univers (INSU - CNRS)-Centre National de la Recherche Scientifique (CNRS)-Université de Franche-Comté (UFC), Université Bourgogne Franche-Comté [COMUE] (UBFC)-Université Bourgogne Franche-Comté [COMUE] (UBFC), Information et Chaos Quantiques (LPT), Laboratoire de Physique Théorique (LPT), Université Toulouse III - Paul Sabatier (UT3), Université de Toulouse (UT)-Université de Toulouse (UT)-Centre National de la Recherche Scientifique (CNRS)-Fédération de recherche « Matière et interactions » (FeRMI), Institut National des Sciences Appliquées - Toulouse (INSA Toulouse), Institut National des Sciences Appliquées (INSA)-Université de Toulouse (UT)-Institut National des Sciences Appliquées (INSA)-Université de Toulouse (UT)-Université Toulouse III - Paul Sabatier (UT3), Université de Toulouse (UT)-Centre National de la Recherche Scientifique (CNRS)-Institut National des Sciences Appliquées - Toulouse (INSA Toulouse), Institut National des Sciences Appliquées (INSA)-Université de Toulouse (UT)-Institut National des Sciences Appliquées (INSA)-Centre National de la Recherche Scientifique (CNRS)-Université Toulouse III - Paul Sabatier (UT3), Institut National des Sciences Appliquées (INSA)-Université de Toulouse (UT)-Institut National des Sciences Appliquées (INSA)-Centre National de la Recherche Scientifique (CNRS) |
| Jazyk: | angličtina |
| Rok vydání: | 2023 |
| Předmět: |
Social and Information Networks (cs.SI)
FOS: Computer and information sciences Physics - Physics and Society Quantitative Finance - Trading and Market Microstructure Statistical Mechanics (cond-mat.stat-mech) Markov chains [PHYS.MPHY]Physics [physics]/Mathematical Physics [math-ph] international trade commercial flows FOS: Physical sciences General Physics and Astronomy Computer Science - Social and Information Networks Physics and Society (physics.soc-ph) complex networks International trade Commercial flows Markov chains Complex networks opinion formation model [INFO.INFO-SI]Computer Science [cs]/Social and Information Networks [cs.SI] Trading and Market Microstructure (q-fin.TR) FOS: Economics and business Condensed Matter - Statistical Mechanics |
| Zdroj: | Entropy Volume 25 Issue 2 Pages: 373 Entropy, 2023, 25 (2), pp.373. ⟨10.3390/e25020373⟩ |
| ISSN: | 1099-4300 |
| DOI: | 10.3390/e25020373 |
| Popis: | 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. The preprint contains 19 pages including 13 pages of supplementary materials, 12 figures (including 7 supplementary figs) and 6 tables |
| Databáze: | OpenAIRE |
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