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> For all of its current very high profile issues of uncertainty in the US, who would actually trust China in any way shape or form as an alternative? People w

> For all of its current very high profile issues of uncertainty in the US, who would actually trust China in any way shape or form as an alternative? People would trust China for the same reason people still trust the US after it invaded 2 countries in the middle east for no reason whatsoever and decided to imprison 2 million of it's citizens at any given time. If tomorrow there are better prospects of making money in China, then people will go to China and use the yuan to store their wealth. It's that simple. Morals have nothing to do in this equation.

vintermann 1y ago
> People would trust China for the same reason I don't necessarily disagree, but can you explain why you think it is, that people keep trusting powerful states which keep giving plenty of reasons to not be trusted?
- ccakes 1y ago
  Because money is the priority for those people. If they can make more money by operating in a different regime then they will, the moral or political stance of that regime isn’t really relevant
  - vintermann 1y ago
    I feel like you're maybe dismissing "moral or political stance" as something almost aesthetic here, some like this, some like that. But we're talking about what you can trust a government to do here. It matters even if you're indifferent to morality or politics. It's very much relevant to making money, too.
    - ccakes 1y ago
      Sort of, I was probably a bit flippant in the comment but there’s also a short game that can be had even in a potentially hostile environment.
- rdm_blackhole 1y ago
  People trust powerful states who might occasional do shitty things because they tend to assert their dominance when necessary. You can see that clearly now with how the EU completely messed up their negotiations with Trump regarding the tariffs. If you are an investor and you are given the chance to invest in two companies, one of them located in a country that is not afraid of throwing it's weight around to get things done or defend it's interests and the other who might have a better record in terms of human rights but doesn't want to appear too aggressive, which one do you pick? If the only thing you care about is ROI then the answer is easy. Is it right? Probably not but that is just the world we live in and the system that we are all part of. Obviously this is a simplified example but you get the gist. Personally I think that the problem with the USD is that it can be used as a weapon against other countries. Why would China risk being cut off from the global banking system like Russia was? It simply makes no sense. Cutting Russia from SWIFT was major mistake. It only reinforced what China and other countries already knew, that is, that it can be weaponized in an instant. That in turns means that we should see a decrease in the USD dominance and a shift away from the traditional big players like SWIFT in favor of other home grown systems like CIPS.

vintermann 1y ago

> People would trust China for the same reason I don't necessarily disagree, but can you explain why you think it is, that people keep trusting powerful states which keep giving plenty of reasons to not be trusted?

ccakes 1y ago
Because money is the priority for those people. If they can make more money by operating in a different regime then they will, the moral or political stance of that regime isn’t really relevant
- vintermann 1y ago
  I feel like you're maybe dismissing "moral or political stance" as something almost aesthetic here, some like this, some like that. But we're talking about what you can trust a government to do here. It matters even if you're indifferent to morality or politics. It's very much relevant to making money, too.
  - ccakes 1y ago
    Sort of, I was probably a bit flippant in the comment but there’s also a short game that can be had even in a potentially hostile environment.
rdm_blackhole 1y ago
People trust powerful states who might occasional do shitty things because they tend to assert their dominance when necessary. You can see that clearly now with how the EU completely messed up their negotiations with Trump regarding the tariffs. If you are an investor and you are given the chance to invest in two companies, one of them located in a country that is not afraid of throwing it's weight around to get things done or defend it's interests and the other who might have a better record in terms of human rights but doesn't want to appear too aggressive, which one do you pick? If the only thing you care about is ROI then the answer is easy. Is it right? Probably not but that is just the world we live in and the system that we are all part of. Obviously this is a simplified example but you get the gist. Personally I think that the problem with the USD is that it can be used as a weapon against other countries. Why would China risk being cut off from the global banking system like Russia was? It simply makes no sense. Cutting Russia from SWIFT was major mistake. It only reinforced what China and other countries already knew, that is, that it can be weaponized in an instant. That in turns means that we should see a decrease in the USD dominance and a shift away from the traditional big players like SWIFT in favor of other home grown systems like CIPS.