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China has plenty of countries in serious debt to them that they could use as leverage. "Switch to the Yuan as your country's reserve currency, and we'll forgive
by Apes 8y ago
China has plenty of countries in serious debt to them that they could use as leverage. "Switch to the Yuan as your country's reserve currency, and we'll forgive some of that crippling debt we've saddled you with!"
- cthalupa 8y agoIf I owe you $1,000,000, I've got a problem. If I owe you $1,000,000,000,000, you've got a problem. Or however the quote goes. China is not the majority debt holder for any country that I know of, even though they might be substantial ones. I don't see this strategy working if they tried it.
- chmod775 8y agoChina hardly even needs that leaverage to bulli a small nation. Though it may make a good casus belli should the need arise.