...the rest of the world is not that far behind. They are going to be watching the PBOC's grand experiment very carefully to see how the population goes along with it, or what kind of resistance is offered.
The internationalization of the yuan and the expansion of the Chinese economy overseas, which has been a linchpin of the Chinese government strategy for working its way out from under its own debt bubble is now in trouble.
...no one of these stories is a silver bullet, but they're all related and point in the same direction: China and Russia are preparing for the split with US-dominated financial architecture.
Given gold's role as a safe haven in times of economic and geopolitical stability, and given its inverse relation to the dollar, things are looking up for the yellow metal.
The only thing left to say is that the false choice between the Chinese-led world order and the American-led world order are not the only options on the table.