>>62173138
Competence not based on emotion very based

>>62173138

Internationalisation of the Chinese currency. It makes sense given how much the world buys from them. And up until recently. The system was, you buy dollars. Use dollars to buy Chinese goods. Chinese then either hold dollars for trade purchases with US (shrinking rapidly). Or buy US debt assets or equities as collateral (no dangerous due to weaponisation of dollar, see Swift and Russia).

So holding dollars is becoming risky, cumbersome and just not necessary. For all parties in international trade. Also the Yuan will be part of the western facing gold corridor and trade imbalances settlement mechanism they are building.

And gold can’t sanction you. Has no counterparty risk. So it’s looking a lot more attractive.