Renminbi (RMB)/Yuan Appreciation & Internationalization
- Thread starter supercat
- Start date
Russia's economy has been growing, it is recovering from the sanctions, and the Power of Siberia pipeline is still at less than half capacity.
A good example is the Russian car market, which after a massive sales collapse in 2022 with the Western sanctions on car sales and car parts, has now mostly recovered in terms of sales. With Chinese car brands replacing foreign car brands in Russia.
The Power of Siberia alone should count for a major increase in exports from Russia to China as well once it becomes fully on line over the next two years.
All of these trades can be done in local currencies.
A good example is the Russian car market, which after a massive sales collapse in 2022 with the Western sanctions on car sales and car parts, has now mostly recovered in terms of sales. With Chinese car brands replacing foreign car brands in Russia.
The Power of Siberia alone should count for a major increase in exports from Russia to China as well once it becomes fully on line over the next two years.
All of these trades can be done in local currencies.
By the end of September, 202 banks from 52 countries and regions had set up institutions in . Data also shows that 1,110 overseas institutions had gained access to China's bond market, with holdings topping RMB 3.3 Trillion by the end of September...
China Sprints Ahead in Race to Modernize Global Money Flows
The digital yuan challenge to US dollar dominance in $7 trillion of daily FX flows is dashing ahead thanks to blockchain-enabled mBridge project
A new platform to expand the reach of China’s digital yuan and other central bank digital currencies is moving closer to reality, raising eyebrows among some defenders of a system long dominated by the dollar.
The Beijing-backed digital prototype for sending money around the world without relying on US banks is advancing so quickly that some European and American observers now view it as an emerging challenger to dollar-denominated payments in global finance
@KingKong9888
I just had dinner with a mainland China economist who is “in the know” with the “higher powers” in China. This is what he told me:
Since the FED started aggressively hiking rates, China has commenced a program where it lends US Dollars to Global South countries (who lack US dollars) but demanding Yuan/RMB as payment for those loans.
Dubai, China strengthen capital market ties with new agreement
'S PBOC AND CENTRAL BANK OF SIGNED A BILATERAL CURRENCY SWAP AGREEMENT WITH A SWAP SIZE OF 50 BILLION YUAN /26 BILLION SAUDI RIYALS. THE AGREEMENT IS VALID FOR 3 YEARS AND CAN BE RENEWED UPON MUTUAL AGREEMENT.
'S PBOC AND CENTRAL BANK OF SIGNED A BILATERAL CURRENCY SWAP AGREEMENT WITH A SWAP SIZE OF 50 BILLION YUAN /26 BILLION SAUDI RIYALS. THE AGREEMENT IS VALID FOR 3 YEARS AND CAN BE RENEWED UPON MUTUAL AGREEMENT.
This. China of all people have a good grasp of the fact that dollar is a scam. How come then that China still keeps supporting dollar, yet at the same time, dollar isn't able to stop China from maintaining a larger economy and growing faster than US?
It's because from the start, instead of openly calling out US, China continually displaced the scam on other countries, thereby profiting off US' own scam.
US gives China worthless dollars for goods, China makes shitty countries get the dollar in exchange for resource and market gains, allowing more wealth and productive ability to accumulate in China. The end result being 2 winners (US getting more bloated economy) (China getting wealth distribution and an even better performing economy) and 1 loser (whoever agrees to become the final holder).
This is one of the things that most frustrate US about China. Dollar was supposed to give them control over the world, instead, China exploited it to go from soviet living standard to europe living standard in less than 1 generation. And there's no easy way to untangle China from the dollar system, without also destroying the bloated US economy created by Chinese participation.