- Joined
- Sep 13, 2023
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1. China is not interested in yuan replacing USD as reserve currency, because that would mean making it freely convertible, and the control freak CCP would not want to lose control over its exchange rate.If they can't find a alternative to replace USD. China should be volunteered to do so. They keep kpkbing people printing money. China can also do like wise. They tried a few months ago, off shore RMB drop like flies. They suggest using gold... But once you have a abundance of Gold. What's next ? You can't be using gold to transact. The world need a better direction. China can suggest. The world can follow if it's logical. Catch is the outcome must be better then what the US is doing now. World need another big brother.. world needs china to spend and consume the export. But china can't.
China can't lead and can't provide a better option. Instead they go around setting fire. Like China Taiwan straits, Russia / Ukarane and now hamas/Israel.
For I believe that china has indeed stirred the hornet nest this time round. God will surely make China pay for it folly.
2. The Chinese just want to move away from USD and settle its trade in RMB, because they don't want to have all its USD accounts frozen like Russia and Iran.
3. They are working towards a gold-backed currency system. (Remember under Bretton Woods the USD was gold- backed until Nixon delinked it in 1972.) To that end they are hoarding lots of gold. Reverting to a gold standard will forestall the booms and busts seen in a Fiat currency system, and will not allow the US to go into massive debt at the expense of the rest of the world.
4. I believe the Chinese are moving from an export oriented economy to one dependent on domestic consumption (as you suggest), having been the prime target of US sanctions (Huawei and a host of tech companies). How to stimulate domestic consumption is the 6 trillion dollar question, given the low consumer morale currently.
5. I don't believe for a moment China instigated the Israeli-Hamas crisis. For that look to Mossad, CIA and Iran. What does China gain from a Middle East war when it's trying make friends and push its BRI? China sells weapons to the Middle East to earn hard cash, true, but start a war? For what?
Now they're caught in a bind between Iran, Arab nations (they brokered Saudi-Iran normalization), and Israel with whom it has large infrastructure deals.
As for the Ukraine-Russian war, it is a US-Russian proxy war, again agitated by the Americans under the guise of NATO enlargement. The CIA bombing of Nord Stream pipeline gives a clue to its motives.
You bet China is instead observing the war closely to take home points for a possible proxy war over Taiwan in future.
You China- haters like to blame China for all the ills in this world. You give China too much credit. China isn't all powerful, doesn't have the means to 'light fires' everywhere, and is bogged down by massive problems of its own.
But there's one superpower that has the power and reach and resources to instigate fights everywhere, and has been doing so for the past 70 years. It starts wars because war makes money for the military-industrial complex and MNCs. That's your godfather, the great US of A. LOL
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