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I think the biggest issue is that you have to put the assets somewhere and usually that meant a relationship to US currency. China has to go further with a prop

I think the biggest issue is that you have to put the assets somewhere and usually that meant a relationship to US currency. China has to go further with a proposal for how it is going to do a US proof global system. Telling the EU to stand up in unity will only work when the proposal makes the same kind of sense to the EU in the longterm as whatever the US is doing makes sense to the Republicans.

JumpCrisscross 1y ago
> China has to go further with a proposal for how it is going to do a US proof global system Commit to selling half of their $800mm of Treasuries [1] and replacing them with Eurobonds as part of a free-trade agreement. That, in turn, funds Europe’s defence detachment from the U.S. [2]. [1] https://en.m.wikipedia.org/wiki/Foreign-exchange_reserves_of_China https://en.m.wikipedia.org/wiki/Foreign-exchange_reserves_of... [2] https://www.reuters.com/world/europe/europes-plans-pay-surge-defence-spending-2025-03-19/ https://www.reuters.com/world/europe/europes-plans-pay-surge...