Lets be honest .....financially........ china is a crook on many levels......why do they need to print a new currency .....because they are printing worthless garbage cash........ and people are buying into like the ass wipes they are ......because a countries prints paper....... it does not mean anything .....China cannot be trusted ....... on any level ....... especially money .........they are greedy ...... financially gredey......... they only care about money........ nothing else......... it prevails their existence........ and even in funerals....... the dumb fuckers burn money ........so they can have cash in the next life........there is no fucking wal mart in heaven you dumb bastards.. ......... no wal mart........ hell is here ........yes we are lumbered with the shite you sell in wal mart......... its fucking terrible ......but families storm wal mart for cheap shit even on xmas eve......... the fucking loonies swarm to wal mart......... to save on all sorts of fucking garabage .......... you do not need ........ rather.......... than stay home with your families........ on thanksgiving.......and xmas fighting like pirates of barrels of rum ..........you shpould be with your family ...........but all you care about........... is a fucking cheap flat screen....... made by underage....... underpaid ........ poor kids....... in a country that abuses animals women and kids .......... its okay for socks and underwear too ......howvere my pioint is that china does not give a fuck about anyone or anything .....just look at covid ......thats all you need to know they do not care ..........i am telling it like it is ....if it smells like fish .....its eithe fish or really bad fucking pussy ........
China needs to grow its US dollar reserves to boost the yuan's status as a global reserve currency and gain credibility, new study says
A new research paper broke down how China can boost the standing of the yuan as a global reserve currency.
One way this can happen is if China builds credibility that the yuan and dollar have a stable conversion rate.
Dollar dominance on the world stage won't be going away, but the yuan can still gain status in international use, the authors said.
For China to boost the credibility and influence of the yuan as a global reserve currency, Beijing would have to cement its credibility by promising a stable dollar-conversion rate, according to a new paper from the Center for Economic Policy and Research.
While the yuan won't be overtaking the dollar as the world's primary reserve currency, it is still possible for China to drive more adoption of the yuan by accepting dollar payments for exports, among other strategies, according to the authors, who include economists Barry Eichengreen and Camille Macaire.
- ADVERTISEMENT -"Despite China's still limited capital account openness, the share of RMB in reserves can increase if Chinese trade and RMB invoicing continue to increase," the authors wrote. The renminbi is another name for the yuan.
Nations that hold a trade deficit with China could still build their yuan reserves if Beijing pays for imports in yuan but also takes dollar payments for exports, according to the paper.
This, in addition to China's foreign direct investments, would allow other countries to help increase the volume of yuan in use.
However, China will have to work to gain more credibility with its currency on the dollar-dominated world stage. Beijing must ensure yuan reserves can be converted to dollars at a consistent rate — which means China will have to ramp up its dollar holdings for emergency interventions if necessary, the authors wrote.
As Western sanctions on Russia have revealed in recent months, other countries are subject to severe political and financial influence by the US due to the dollar's status. That may make it seem counterintuitive for China to increase dependence on the dollar.
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