> Its Western assumption that China wants to escape the USD reserve currency. Nah, they have a lot of them, they don't want their value to drop. What the worl

> Its Western assumption that China wants to escape the USD reserve currency. Nah, they have a lot of them, they don't want their value to drop. What the world wants is to escape (at least in the medium term) is the US oversight that forces the USA's enemies to be everyone else's enemies. From what I can tell, they are going to use (are using) Hong Kong as a ex-USA location to price and trade USD - modeled on the Eurodollar. With a lot of trade-with-China being settled in their e-CNY CBDC. As a poster alluded to - the big loss for the USA is the insights into pricing and demand. Nascent, but that's the trend AFAICT.