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Foreign borrowers issue a record amount of yuan debt, helping internationalize China's currencyquote:China's monetary easing is attracting foreigners looking to borrow yuan at relatively lower rates, helping globalize the currency. That's not a big increase, but as Western central banks raise rates and China cuts rates, the yuan is more attractive to borrowers.
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Jun 30, 2023 02:09
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Centrist Committee posted:yuan:dollar::renminbi:dollar
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Jun 30, 2023 02:45
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from the eurasia thread:gradenko_2000 posted:dedollarization alert
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Jul 4, 2023 06:06
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OhFunny posted:In Argentina, US dollars are so scarce that yuan use is at record high not just factory parts now: https://twitter.com/BenjaminNorton/status/1674531882711523335?s=20
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Jul 5, 2023 14:01
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Good
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Jul 5, 2023 15:41
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How large is Argentina's IMF bill? Does 2.7B pay it off or is there still a bunch left?
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Jul 5, 2023 16:49
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net work error posted:How large is Argentina's IMF bill? Does 2.7B pay it off or is there still a bunch left? it owes $44 billion
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Jul 5, 2023 16:55
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We're gonna need a bigger Yuan.
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Jul 5, 2023 16:58
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net work error posted:How large is Argentina's IMF bill? Does 2.7B pay it off or is there still a bunch left? $44 billion. Edit: beaten
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Jul 5, 2023 16:59
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How are Chinese capitalists taking the switch over from USD to Yuan? I imagine that many of them have most of their overseas money in USD, is that an incorrect assumption?
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Jul 5, 2023 17:11
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It is a brilliant idea. It's like private equity at the national level. Coup in a neoliberal patsy, put the whole country in debt to the imf, then when either democracy or revolution puts in a legitimate leader, build them accountable to the debt and force neoliberal reforms.
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Jul 5, 2023 17:11
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AnimeIsTrash posted:How are Chinese capitalists taking the switch over from USD to Yuan? I imagine that many of them have most of their overseas money in USD, is that an incorrect assumption? after seeing what america does to its perceived enemies and increased rising sinophobic rhetoric from the libs, they surely have a vested interest in winding down various usd holdings lest they get extra judicially seized for simply being Chinese the biggest driver for dedollarization is the realization america is not to be trusted at all and can do whatever theft n crimes n coups to anyone that’s the enemy de jour
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Jul 5, 2023 17:14
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ikanreed posted:It is a brilliant idea. It's like private equity at the national level. This is literally how it works, yes. Neat little trick the west picked up from endebting Haiti for stealing all that property (themselves).
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Jul 5, 2023 17:37
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ikanreed posted:It is a brilliant idea. It's like private equity at the national level. not only is that what we have been doing for decades, the roman empire did the same
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Jul 5, 2023 20:53
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Argentina Allows Bank Accounts To Be Opened With Yuan Following US Dollar Shortagequote:A statement on the Central Bank of Argentina's website said, "The Central Bank of the Argentine Republic incorporated the renminbi yuan as the accepted currency for depositing in savings banks and current accounts. Financial institutions will thus be entitled to open bank accounts denominated in yuan renminbi. The measure is complementary to the decision of the National Securities Commission that authorized the trading of negotiable securities in RMB yuan." The steps Argentina is taking toward de-dollarisation are out of economic necessity due to the collapse of the peso. Such moves don't really fix the problem of the currency continuing to slide in value. As it has halved in value against the yuan over the last year.
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Jul 8, 2023 17:16
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https://twitter.com/XisMoments/status/1676407020281544704?t=HH_UB2oQHqN_01QB6heF0g&s=19
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Jul 9, 2023 10:24
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crepeface posted:https://twitter.com/XisMoments/status/1676407020281544704?t=HH_UB2oQHqN_01QB6heF0g&s=19 SCO also admitted Iran as a member state
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Jul 10, 2023 02:43
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good
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Jul 10, 2023 03:17
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The big BRICS meeting is in august and it is going to be interesting to see if they admit a bunch of new members/change their name (it would be about time) and if there more hints about a new international reserve currency that has been rumored.
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Jul 10, 2023 08:58
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lol the sco announcement of irans admission was on the 4th of july. nice
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Jul 10, 2023 18:04
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https://twitter.com/Kanthan2030/status/1679710428375683074?t=D5gl45Ln7JiNeR79ELM5Ow&s=19
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Jul 15, 2023 01:19
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India, UAE to Trade in Local Currencies, Link Payments Systemsquote:(Bloomberg) -- India and the United Arab Emirates agreed to use their respective local currencies for cross-border transactions, as Prime Minister Narendra Modi pushes the rupee’s role on the global stage. The UAE is India's third largest trading partner. India is the UAE's largest trading partner.
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Jul 15, 2023 18:33
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OhFunny posted:India, UAE to Trade in Local Currencies, Link Payments Systems nice! India getting into the dedollarisation game is a good sign of their growing independence.
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Jul 17, 2023 02:35
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Pener Kropoopkin posted:dedollarization accelerates
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Jul 17, 2023 04:12
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whomp whomp https://twitter.com/spectatorindex/status/1680356437942476800?t=iXZweuOar3tx_27zzRLibg&s=19
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Jul 17, 2023 12:53
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Not So Fast posted:whomp whomp thanks wagner
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Jul 17, 2023 12:58
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hyrule will be devastated
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Jul 17, 2023 13:14
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Not So Fast posted:whomp whomp This Twitter account is way behind on this news. Which was discussed in the Ukraine war thread some time ago. They're using yuan instead.
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Jul 17, 2023 13:29
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From what I understand, Russia and India was doing direct currency trade and Russia got tons of rupees in India banks and couldn't buy anything with it because India doesn't export lot of of industrial products. The Russian oil exporters want yuan instead and the Indian government said no you can't use yuan you can use the rupees to buy our Indian bonds (which is a lol). Those all made previous round of news. And then *something* happened and the Indian crude oil importers started paying in yuan. This news was reported as rumor not officially by any government/corperate press. That something was never made news so we don't know how and why the Indian government budged. We don't know where do Indian importers procure all the yuan either because they also have a trade deficit with China. Maybe they are secretly buying yuan with USD on the international market. stephenthinkpad has issued a correction as of 14:23 on Jul 17, 2023 |
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Jul 17, 2023 14:18
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hmm two “we’re absolutely not socialist” countries can’t do what the “yes we’re socialist and the end state is communism” country does?
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Jul 17, 2023 17:00
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Centrist Committee posted:hmm two “we’re absolutely not socialist” countries can’t do what the “yes we’re socialist and the end state is communism” country does? tbf communist countries have issues with multilateral clearing too, its just that china literally makes everything so no one really cares about holding on a glut of yuans
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Jul 17, 2023 17:15
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yeah yuan gonna worry about holding onto a buncha rmb
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Jul 17, 2023 17:38
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I'm sorry I'm gonna have to correct you. You make it sound like a nation's economic power is based on its real economy and production. It's actually based on the numbers in this spreadsheet. Thank you.
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Jul 17, 2023 19:12
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can I see the spreadsheet
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Jul 17, 2023 20:13
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Centrist Committee posted:can I see the spreadsheet https://www.heritage.org/index/explore
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Jul 17, 2023 20:32
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https://twitter.com/GUnderground_TV/status/1682329881663635456?t=p9biyk4tjP7YmLe8NC8y6w&s=19
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Jul 25, 2023 00:37
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stephenthinkpad posted:https://twitter.com/GUnderground_TV/status/1682329881663635456?t=p9biyk4tjP7YmLe8NC8y6w&s=19 
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Jul 25, 2023 06:35
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is there a downside to joining a new gold standard with the 2 top producers of gold in eurasia for countries that dont produce gold?
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Jul 25, 2023 06:49
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Real hurthling! posted:is there a downside to joining a new gold standard with the 2 top producers of gold in eurasia for countries that dont produce gold? if there are large swings in the money supply, gold production can’t be scaled up to match them, in a reasonable time frame
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Jul 25, 2023 12:49
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Real hurthling! posted:is there a downside to joining a new gold standard with the 2 top producers of gold in eurasia for countries that dont produce gold? Typically you trade what you do have for some of the gold backed currency. It's disadvantageous, but not as disadvantageous as USD
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Jul 25, 2023 13:07
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