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China's Yuan Soars Most On Record? Beijing Orders Banks To Dump Dollars?

serfserf Member Posts: 9,217 ✭✭✭✭
edited October 2022 in Politics

They are selling Dollars and have a 1 trillion of them in Treasury bonds.But they might be cutting off their nose in spite of their face.But this means The Chinese are declaring economic warfare on The U.S. It's Russia and China are going for the U.S. reserve currency status now and this could get very dicey for all players especially if China invades Taiwan!

Oh yeah The USA government will/has begun delisting all Chinese companies on the NY stock exchange soon too! Looks like the gauntlet has been thrown down for a war. Now what kind of war is the next question?


Desk chatter suggested Chinese state-owned banks were actively selling dollars - no doubt under orders from party HQ - triggering stop-losses and sparking the biggest single-day gain in the offshore yuan in history...

Speaking during an online interview, the senior security official said it would be impossible to find a replacement for the country’s chip sector within a decade or even within a generation, CNA reported. If China launched a war, it would suffer considerable damage, while the global economy might face collapse, he said.

Looking at the issue from the point of view of regional politics, a Chinese invasion of Taiwan would result in a grave impact on Japan, South Korea, and the Philippines, while the United States might have to retreat to Guam and even to Hawaii, according to Koo.


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