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Okay, those are good points, but I don't think the statement is meaningless. China, as I think most understand, deliberately pumped RMB into the market in a man
by piker 1y ago
Okay, those are good points, but I don't think the statement is meaningless. China, as I think most understand, deliberately pumped RMB into the market in a manner that made its resources available to foreign markets by trading a capital account deficit for a trade surplus. It's literally the first thing discussed in the RMB wikipedia page: https://en.wikipedia.org/wiki/Renminbi https://en.wikipedia.org/wiki/Renminbi.
- bigyabai 1y agoWhich is a completely fair play in a globalist society when you're a nation with an outstanding capital surplus. The US did this for centuries by exporting the dollar as a reserve currency, up until the gold standard ended and the value of the dollar as fiat started deteriorating. Imperial economics 101, really. Offer stability in one hand and demand compensation with the other.