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> idea that a basket of foreign currencies or "BRIC+" will replace the dollar is absolutely not going to happen No it'll be renminbi, with the euro, if they ar
by KaiserPro 1y ago
> idea that a basket of foreign currencies or "BRIC+" will replace the dollar is absolutely not going to happen
No it'll be renminbi, with the euro, if they are lucky as a distant second place.
- declan_roberts 1y agoChina simply cannot exist without the USA and unlike Russia they have no real natural resources to back up their currency.
- KaiserPro 1y agoI'm sorry but that is utter utter bullshit. China is an exporting and manufacturing powerhouse. Something that is only accelerating. Don't get me wrong, china has a whole bunch of issues. but currently political instability kneecaping economic growth is not one of them. Also China knows that unemployment means the end of their control. So they will do anything and everything to keep people gainfully employed. the USA less so, and we'll see if that works out for them. Russia has a tiny economy based on war and oil.
- tobias3 1y agoChina is more in a debt trap than even the US. Their only clean balance sheet is the central government balance sheet.
- moogly 1y agoThe Swiss Franc perhaps?
- nic547 1y agoProbably too small. Also Switzerland is easy to bully, as can be seen by the current US tariff regime.
- satyrun 1y agoIt might help if I could actually convert to renminbi. That is kind of a first step. You know, actually being able to convert from one currency to another.