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> which would mean Chinese citizens could leave the country with their wealth You're just assuming that China would let people leave the country with their wea
by naasking 4y ago
> which would mean Chinese citizens could leave the country with their wealth
You're just assuming that China would let people leave the country with their wealth. Are you forgetting that countries have control over their borders and how finances are handled?
- mixdup 4y agoI think that is their point? That China wouldn't let that happen, meaning the Yuan is unlikely to become the world's new reserve currency?
- naasking 4y agoI believe he's actually saying that Yuan becoming a reserve currency means increased risk of capital flight from China. China benefits if everyone outside of China is using the Yuan, and if they mitigate capital flight, there's no downside.