There has been a lot of hysterical crying lately about de-dollarization. People seem to think that because Russia and China have made a pact to trade in the Yuan, the US is screwed.
All of this makes me laugh because it's pretty clear this is mostly dummies and finance dudes that want the US to burn. It's a very popular thing right now. You can tell because they completely ignore the structural issues China is having. If they are even aware. They also seem to ignore that China fucks with its money more than we do.
Let them trade in the Yuan! I'm going to show you why ~I~ think this way.
#1. The China Belt and Road loans are severely underwater. They are talking about complete forgiveness for Africa.
#2. Just because China's economy is open, doesn't mean it's in a recovery. Companies are leaving China in droves! Shopping malls are closing. I'm actually getting a little concerned about the relatively new middle class in China because it is very hard to find a job. India is going to be the #3 economy, and China moves down.
#3. Closed companies have not paid workers. This has been going on for months. Property has also been in trouble for at least a year since Evergrand collapsed.
As you can see. China is not in a position of power right now. And neither is Russia. Let those losers trade in China's currency. As late as March 2023, China was enacting capitol controls!