I like the naive extrapolations of China's progress. Takes me back to the 80s. Not worth arguing. Reserve currency status, China's progress, Covid masks and vaccines.
To truly get back there, you need my help. Most of the forum hates when I do this, but I cannot resist.
my goodness! this is a very old video. it was probably made before the video camera / camcorder was invented.
Yer far out, man. How can a video be made after videos could be made with video-recorders? Mind blown. Here's like 1990, before the Internet as we know it. Mind Blown. Want me to bust out a video of the rotary telephones? Maybe you forgot what it means to be human. Here, max, here's what it is like. Starting to feel like a human yet? Stop being a dumbass.
Different Question. What if I could provide you with a completely new economic model, with new tools, a new strategy and money circulation theory? Do 'you' think this would solve the problem?
Everything is relative when it comes to currency. You have lots of reasons to be down on the dollar, try listing them out. Then list out how the Yuan is better in each of those aspects. Even before you consider the fact that the country behind the Yuan is a dictatorship that has shown no compunction pulling the rug out from under any economic aspect they wish whenever they want, you'll still find that any problem you come up with for the USD the Yuan has that same problem and more. Go ahead, start your list here and we can discuss. It’s not enough for the dollar to be bad, the replacement has to be better. The Yuan just isn't.
Agree. I was chatting with a friend, and he pointed out that the world's reserve currency is not _dictated_, it's chosen by a _market_consensus_. After WWII, Sterling lost its reserve status because London was flat broke, and people trusted the USD far more. We are a long way from a market consensus on CNY or RMB. Step 1 would be to unblock it, and let it float against other currencies.