“ arbitrary government valuation, makes the yuan absolutely untrustworthy as a pivotal currency.
”
That sounds horrible. Glad the dollar isn’t that way
Yeah. The dollar’s problem is quite different, but still untrustworthy. The dollar has a date with destiny, when “the emperor has no clothes” kid shows up. Until then, it’s a vapor paper of convenience to the world.
With the yuan, you can never know when the CCP will just arbitrarily pull the rug out from under anyone who trusts it.