Oops, time for regime change is South Korea.
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- Thread starter bd popeye
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Famous last words
The strengthening of the USD puts all central banks in a corner and the PBOC arguably is in a lot better position than the central banks of other major countries due to a few factors. Since China has huge FX reserves, that gives the PBOC a fair number of options to sell and strengthen the renminbi if they deem it necessary. Also with low domestic inflation in China, a lowered yuan isn’t causing the same kind of social unrest over energy and food prices like what we’ve seen in the EU. Capital flight is an issue, but since nearly everyone else is doing poorly, overseas investment options are limited.
The high Federal reserve interest rates is arguably putting US exporters into a though spot as it becomes increasing difficult to have a strong currency and grow exports, especially when everyone else is losing purchasing power relative to the USD.
What’s this? A coming to Damascus moment for Jaishankar, the Indian minister who championed the quad and pushed for India to become a willing sepoy to the anglos as recently as 2021?
Lol this comment right here where I don't give a rat ass about you Western folks virtue signaling and crying about climate change. If global warming is an existential threat to all humanity then people in the west who on per capita basis contribute the most Carbon emissions in the world should ought to drastically reduce their spending habits. That means stop going on vacation, stop buying phones every darn year, reduce consumption on your eating habits and many more. But it's pretty obvious to most of us from the global south that Westerners are all about lecturing that's all.
That's the same guy who was playing tough with China a few months back..