...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.
They want a global currency. They’re going to try and do it with SDR’s. They’ve already started the process, and I’m not certain about how it develops, but this acchain outfit is definitely one of their testing grounds.
this is a rigged game with loaded dice. The international “superclass” that pays no allegiance to any particular country is preparing to abandon the American empire as the engine of global dominance for a multilateral BRICS-fronted IMF-administered globalist slave state.
The biggest news to emerge during the summit was not directly part of the summit at all, but in some way is a reflection of the topsy-turvy period of global geo-economic reorientation we are living through.
... already it seems clear that President Xi is indeed tightening his grip on control of the Party (and thus the country), and that Xi is continuing with his vision of making China into a world superpower in the coming decades.
... the writing is on the wall: The neocons in charge of the American war machine have chosen India to be their next best hope for a potential roadblock to Chinese dominance in Asia, and they're re-naming the entire region just to prove it.
Let's just say I'm not holding my breath for China to swoop in and save us from the New World Order agenda anytime soon.
Do you think there might be some similar shenanigans going on with this petrodollar "alternative?" If so, then might I just say you are an extremely jaded and skeptical person. You are also correct, so give yourself a cookie.
This is the real "nuclear option." Not the fiery explosion of economic Armageddon, but the slow and painstaking creation of an alternative system
...now that we are living in an era where India and China are being positioned as "rivals" of the American hegemon, it certainly makes sense that we will see the key tenets of Pax Americana challenged.
...if it's a question of optics, there's no doubt that China's checkbook diplomacy is earning it more friends in Africa than Uncle Sam's gun-barrel diplomacy.