China's Yuan Soars Most On Record? Beijing Orders Banks To Dump Dollars?
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?
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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...
https://www.taiwannews.com.tw/en/news/4698592
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.
Comments
Just a hand full of years ago remember China announced to the world they would be number one in world soon for everything ousting the United States in every aspect
Seem with old sleepy Joe ther well on ther way
Might want to look at taking Chinese language classes
China has one big problem with usage of water with little supply and if the drought persist there then their economical miracle is over.There aquifers are also polluted now too!
serf
https://www.geopoliticalmonitor.com/water-shortages-chinas-unrecognized-threat/
“Four hundred Chinese cities now face a water shortage. One hundred and ten cities face a severe water shortage. This is a very serious problem,” says Liu Changming, a former hydrologist working at the Chinese Academy of Sciences. When I first arrived to Beijing 60 years ago, there were springs everywhere,” he continued. “Some bubbled up half a meter high. There were rice paddies. But now the population’s increased sevenfold, and there are seven ring roads around the city. That abundant supply of water is gone.”
It isn't getting better from that 2018 article..
https://www.dailysignal.com/2022/08/30/chinas-heat-wave-water-shortage-threaten-its-role-in-global-supply-chain-expert-says/