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I kind of doubt it. Because China has the second largest GDP, and it is quite comparable to US. But Chinese Yuan is basically worthless outside of China. Almost
by perryizgr8 6y ago
I kind of doubt it. Because China has the second largest GDP, and it is quite comparable to US. But Chinese Yuan is basically worthless outside of China. Almost all international trade, even when involving China, is done in USD.
So definitely there has to be some other factor apart from GDP which gives value to a currency.
- rukshn 6y agoBut isn’t there a static exchange rate right between Yuan and USD according to economy inflation or GDP? Or proof of work for Bitcoin, so what backs bitclout?
- IndySun 6y ago>Almost all international trade, even when involving China, is done in USD. What will happen to US and world economic trade when this is reversed?
- perryizgr8 6y agoThen we go to war. - USA, probably