Posted on 04/01/2021 7:57:33 PM PDT by SeekAndFind
The Chinese regime is accelerating its efforts to challenge the U.S. dollar’s dominance in global markets and trade by taking advantage of the economic shifts caused by the pandemic, a Chinese professor recently revealed.
In the post-pandemic world, China should be the “one who decides the benchmark of value,” Di Dongsheng, associate dean of the School of International Studies at Renmin University in Beijing said in a video posted on Chinese social media on Feb. 4. “The currency that fixes the price will eventually be the renminbi.”
The professor last April described the pandemic as an opportunity “unseen in 100 years” for the regime to realize its goal of making “all seven billion people in the world pay for [China].”
If the Chinese yuan (or renminbi) achieves global hegemony, Beijing will be in a position to print more money to dilute the value of yuan held by the world’s population—thus transferring wealth to China, he said.
Professor Di gained notoriety late last year when a video of his speaking spread widely in the United States where he said the regime influenced the United States for decades through “old friends” on Wall Street.
The professor has “contributed to China’s foreign economic policy,” and regularly participates in policy discussions and overseas visits with various bodies of the Chinese regime, such as the foreign ministry, the state planning agency, the National Development and Reform Commission, and the International Liaison Department, which falls under the Chinese Communist Party’s Central Committee, according to his biography on the Renmin University website.
The Chinese regime has been a major beneficiary of low-interest rate policies adopted by Western economies as they rushed to stem the economic fallout from the pandemic. Foreign investors have bought up China’s higher-yield bonds, pumping $135 billion into Chinese bonds in the 12 months ended
(Excerpt) Read more at theepochtimes.com ...
Good for Russia (about 2 weeks ago). Good for China.
Now, if only we here in the USA can do the same!
(replace it with gold-backed NESARA)
Our establishment, both parties, is playing right into their hands.
What does BiXiden have to say regarding this issue?
It is projected to happen by 2029. The US Dollar just achieved an historic event last month- or shall I say the Chinese Yuan did- more Chinese Treasury Bonds were purchased by the world than US Treasury Bonds.
Expect even more interest in China as it is greatly rumored that their new sovereign digital currency ( they are slated to be fully cashless by 2023) will be backed by gold, not “promises to pay”.
The USA is going crazy with debt and money printing - but who wants to hold their wealth in Chinese RMB??
EVERYTHING in China is subject to CCP politics. I would never keep my money in Chinese control.
Also, China runs a mercantilist economy. It can’t be a major reserve currency across the globe unless it puts money out into the world - Triffin’s dilemma
It might play some larger role as a reserve currency, but it is very limited.
nothing stops any two parties
from using the RMB
as a benchmark
just go do it
Is there really any such thing as 30 trillion dollars - and counting?
THAT BIDEN WIN IS AN AWARD TO CHINA FOR INVADING US USING COVID 19
Every time an American looked at an item for where it was made in it came from China. Now China’s reliance making everything was being threatened by a change in leadership in America which was a major consumer of those products. When Americans hailed their leaders decision to make many of them in their country US. Their politburo worried.Also beside the protests would build up and ship loads of American $$$$ might stop coming in
Worse yet opponents to the Chinese regime in power had its citizens protesting its policies , as in Hong Kong, since that change in American leadership, wave the American flag and present Trump’s name when doing so.
All of which presented those in power the need to destroy that leader Donald Trump. In totalitarian political circles this strategy has been reported to be frequently considered Would a runaway plague created by a nation which could threaten populations of an enemy cause them to react by demanding extreme restriction of movement by its population to prevent its spread ? Thus wind up fragmenting its economy and create defeat for that leader’s upcoming election.When
they released it that was the CCP intention but it got away from them and went world wide and they should be made to pay
Here’s that compliment paid to the CCP by the Biden campaign for bringing in the virus which they admitted really helped fix it to get Biden elected http://freerepublic.com/focus/f-news/3940857/posts
Hmmm, talking like that has caused your social credit score to be decremented.
With the trillions printed, and what Biden intends to print, the Chinese and Russians are merely being fiscally prudent.....
He would say, “The dollar is as good as gold.”
Then someone on his staff would remind him the dollar is based on nothing. This will shock Joe.
If they announce a gold based yuan, and priced gold at a ridiculous price, the US would be in trouble in about a week.
They have been selling out bonds for about three years now. They are down to a few hundred billion—its way down from its peak.
good ol chinese tu gsten gold bars determining it?
sure hope not
the smart people would trust em with a copper penny
Not true.
The dollar is based on good wishes, unicorn farts, and fractional reserve lending practices.
I could see it as one of the major asian reserve currencies, under/less than the japanese yen, because its commies, and they’ve been known to cheat with gold bars filled with tungsten, crap like this.
Not a world currency.
Only way that can happen is if we don’t exist.
If Trump were still in office, this move would not at all be helpful.
I wish nothing bad to the Chinese people....their leaders, like our leaders, are evil.
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