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Until the people in corrupt countries are storing their wealth in Yuan and not dollars, the US is still in control of the biggest prize. There is a reason that
by njarboe 8y ago
Until the people in corrupt countries are storing their wealth in Yuan and not dollars, the US is still in control of the biggest prize. There is a reason that the richest people in the world (especially the Chinese) spend a lot of time and effort getting some large fraction of their wealth into western jurisdictions, and in particular Anglo-Saxon jurisdictions (UK, USA, Canada, Australia). Those places have the longest history of respecting the rule of law and property rights(Switzerland excepted). How long can a political system last when a huge fraction of the wealthiest people living in it are afraid of it?
- sys_64738 8y agoThis. The dollar and euro are the rocks of stability in the currency market. To convert your money to yuan is the same as giving your money to the Chinese Communists.