The Yuan is not a freely convertible currency and the Bank of China maintains it at a loose peg with the US dollar.
This is about using different banking systems. It does not challenge the USD.
Do NOT be so triumphalist about the collapse of liberal globalism. Both are US creations by the Constitution and Wilson’s League of Nations and US economic power making the dollar the international currency. One alleged reason for hitting SH’s Iraq was to stop him making an arrangement to price Iraqi oil in Euros.
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Ted Belman
tbelman3- at- gmail.com
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Peloni
peloni1986@yahoo.com
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The Yuan is not a freely convertible currency and the Bank of China maintains it at a loose peg with the US dollar.
This is about using different banking systems. It does not challenge the USD.
Do NOT be so triumphalist about the collapse of liberal globalism. Both are US creations by the Constitution and Wilson’s League of Nations and US economic power making the dollar the international currency. One alleged reason for hitting SH’s Iraq was to stop him making an arrangement to price Iraqi oil in Euros.