Let's not fool ourselves, the USD is a shitty reserve currency. But: It's amazing that otherwise smart people don't understand that china manipulates their cur

Let's not fool ourselves, the USD is a shitty reserve currency. But: It's amazing that otherwise smart people don't understand that china manipulates their currency worse than the US. How do people think that the evergrande crisis just disappeared? Magical econ dust? I don't doubt that corrupt regimes can be bought off to the yuan, but it's hard to imagine seeing that going well for them:. USD M2:GDP hovers around 1, RMB M2:GDP is currently around 2. Even worse, RMB has extreme capital controls. It's difficult for individuals to get RMB out of PRC, because the regime is terrified of capital flight. It's hard to predict what effect this would have on a reserve currency.