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chetoman1 t1_j67i8jf wrote

Reply to comment by TacoSeasun in Global Inflation Update by Infamous_Sympathy_91

This is the real answer. Chinese people were literally fuckin locked in their homes unable to even buy food, and the Chinese government barely printed a single dollar. Hell they even encouraged the US to keep going on their destructive path by saying the rate increases were dangerous.

Why the fuck would they have high inflation? I do suspect their rate will rise to about 2-2.5% as they just recently abandoned zero covid only a month and a half ago.

Source: net worth in NIO. Read a lotta Chinese news From both America and overseas.

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burrysputs t1_j67y4cs wrote

I'm balls deep in baba and tencent. OP's chart is a big part of my thesis.

Remember 2021 and the reopening? Yeah it's gonna happen in China now.

UniNvEStAbLE!!1!

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TacoSeasun t1_j68n2cs wrote

The Chinese Yuan may likely be the strongest currency in the next 1 to 2 years. I also read there is a lot of pent up savings and demand that the citizens hold, but ibalso think the government will control that if they have to.

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UnsafestSpace t1_j69oj4a wrote

The Yuan is the US Dollar, they are basically the same currency since China pegs the RMB to the USD.

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UnsafestSpace t1_j69of35 wrote

> and the Chinese government barely printed a single dollar

The Chinese RMB is pegged to the USD, so whilst they weren't printing money (to prevent their property market overinflating even more than it already did), it did fuck the country in other ways.

You can't have a pegged currency and not keep in step with the currency you're pegged to via both interest rates and liquidity, without causing a major economic crisis.

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chetoman1 t1_j69ug3t wrote

Yeah it may be a double edged sword but the sharp end that’s aimed at China is rather dull. The number of countries that increased their yuan holdings while limiting or even reducing their USD is baffling. All while China has lower inflation (regardless of the peg) and reopening prospects. They urged the US to keep their rates low as fuck because arguably we’re cutting off our own limbs here in the states while China suffered a mere paper cut.

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