China’s economic position is now seen as the main threat to the U.S. dollar.
  • Belly_Beanis [he/him]@hexbear.netEnglish
    2·
    1 day ago

    Now I’m thinking “Where can I get a stockpile of yuan here in the US?”

    There’s banks in some major cities that allow you to open an account in yuan, but they’re for corporate clients only and require something like a $20k minimum balance.

  • RedWizard [he/him, comrade/them]@hexbear.netEnglish
    10·
    2 days ago

    This is the stuff that the average person isn’t even aware of. It’s a very interesting read. I wonder what a yuan driven global economy could look like. I’m sure if we looked at the belt and road we’d get some kind of idea, but it’s very much only a partial image.

    • ☆ Yσɠƚԋσʂ ☆OPEnglish
      10·
      2 days ago

      I think it’s going to be very interesting to watch how this all develops going forward. The two big outcomes will be that the US along with the rest of the west will no longer be able to do sanctions, and it will lose visibility into global trade. That’s going to take a lot of leverage away from western countries.