Mfs seem to have forgotten that Chinese GDP PPP is already higher than the US
The Dredge Tank. For posting all the low tier reactionary bullshit that you can't post anywhere else. Got some bullshit from Reddit with 2 upvotes and want to share, post it here.
This community was created with the purpose that Rule 8 fans will just block it.
The rules are literally The Dunk Tank's rules, just without rule 8.
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From what I understand this is because the renminbi is not a convertible currency*. Wether you're american, russian or chinese you can't easily buy and sell yuan on forex exchange markets. What this means is that when China accumulates dollars, it invests those abroad (historically the US, now not so much for obvious reasons). This drives up the demand for dollars, and means that China's trade surplus does not drive up the demand for yuan.
Ah makes sense. Thanks!