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He’ll be remembered as the man who united the world…against the US. Lol
What’s the over/under on trade shifting to the Renminbi before his term is through?
I'd bet a trillion dollars that the trade won't shift to the RMB. The main reason is simple, that's not what China wants. I'm so tired of western analysts not understanding a god damn thing about what China is doing. They see the US wanting the dollar to be the main trading currency so they assume because USA wants it, China HAS TO WANT IT BECAUSE CHINA HAS TO OPERATE EXACTLY THE SAME WAY. It's so ignorant it makes me puke. It's the same thing with them droning on and on about war with Taiwan.
How about we take a I dunno a god damn minute to see how China is changing trade? Currency swaps. I'm not going to delve deep into how it works, research it if you're curious. But basically the countries exchange like a trillion dollars and every time a transaction occurs, money is pulled out of that pool. The reason China loves this is because essentially no monetary transaction has occurred. If you were ever wondering how China keeps growing as their trades on swift go down, this is how. The best part is nothing is transparent about any of this. China can show or hide what ever the fuck they want. Which leads directly to articles about China lying about their economy. Which they are, as the IMF discovered China is hiding trillions and trillions of currency from these exchanges. This isn't me saying this, this is the god damn western IMF saying this.
So then, if this is working for China, someone needs to explain why the fuck China would even want to be the main trading currency.
I don't think they're concerned with currency so much as flow of trade, generally speaking. They'll happily trade under a multi-currency system, just so long as the money goes through their banks and brokers.
That's what I'm saying, yes.