Viewing a single comment thread. View all comments

Bring_Bring_Duh_Ello t1_je8pfb3 wrote

Reply to comment by Elsewhere3000 in Brazil, China strike trade deal agreement to ditch US dollar by loggiews

…is this a joke? Brazil trades in yuan and you think all of this will be the result? Not only is this a non-issue it’s not news. China is trying to do what the US did in the 50s and they have yet to even do that.

5

Elsewhere3000 t1_jeaep0i wrote

Over the past 2 weeks:

  1. Saudi is considering using Yuan for petrol. USD is backed by oil. Not gold.
  2. China and France complete the first transaction for LNG (gas) using the Yuan with no intermediary.
  3. Russia considers using the Yuan as a reserve currency.
  4. Saudi partners with China to build oil refineries for 83.7 billion Yuan ($12 billion USD).
  5. China and Brazil which we are talking about here.

The percentage of global USD reserves is down from %72 in 1999 to %59 today.

It’s happening. Slowly but it’s happening.

8

Bring_Bring_Duh_Ello t1_jeag7yb wrote

  1. To be clear the yuan is not even among the top 4 reserve currencies which are USD, Euro, Pound and Swiss franc.

  2. Government transparency - how many people truly understand the dynamics behind the Yuan? Maybe 35 members on the China State Council (if that). The lack of transparency will be a major drawback against the Yaun.

  3. As Chinese middle class expands more Chinese are likely to spend in the worlds number one economy, or the US. Which will in turn result in US companies selling more to China. These demographics and economic factors only add, not subtract, from the strength of the USD.

  4. The USD stands on solid bedrock of the 310M population whereas the Yuan is spread across 1.3B Chinese who are not only aging as a population but will begin to demand more rights. Social unrest and political pressure are coming in the mid to near term

4

[deleted] t1_je923u3 wrote

[deleted]

−6

[deleted] t1_je9dszm wrote

[removed]

0

good_for_uz t1_je9e1kt wrote

None of the statements are disputed and I'm not being paid.

Most of what I wrote is from wall street journal. Are they shills?

1

PerfectChicken6 t1_je9ehoo wrote

Firstly, the statement presents a simplistic view of language instruction in African nations. While it may be true that some African countries teach Mandarin on their curriculum, it does not necessarily mean that Mandarin is more widely taught than any colonial language.
Secondly, the statement implies that China's foreign policies and economic activities are universally positive. However, there have been concerns raised about China's approach to diplomacy, particularly its use of debt-trap diplomacy, where it lends large sums of money to developing countries, often for infrastructure projects, which these countries may struggle to repay.
Thirdly, while it may be true that China has made significant progress in nuclear fusion research and technology production, it is worth noting that China has also been accused of intellectual property theft and forced technology transfer from foreign companies as part of its industrial policy. Additionally, technology production is not the only measure of a country's development and success.
Finally, while China has made significant economic progress in recent decades, it is important to note that economic growth alone does not necessarily translate into improved standards of living for all citizens. China and its political system remains highly centralized and authoritarian.

4

good_for_uz t1_je9f6gc wrote

>it does not necessarily mean that Mandarin is more widely taught than any colonial language.

I said, after colonial languages

>Secondly, the statement implies that China's foreign policies and economic activities are universally positive.

I never said it was positive, it was meant as a warning

>Thirdly, while it may be true that China has made significant progress in nuclear fusion research and technology production, it is worth noting that China has also been accused of intellectual property theft and forced technology transfer from foreign companies as part of its industrial policy. Additionally, technology production is not the only measure of a country's development and success.

That is exactly the point I was making that they piggyback of other countries through intellectual property theft.

I was countering the argument that they are stuck in the 50s

>Finally, while China has made significant economic progress in recent decades, it is important to note that economic growth alone does not necessarily translate into improved standards of living for all citizens. China and its political system remains highly centralized and authoritarian.

They are authoritarian but by international standards they have moved more people out of extreme poverty than any other nation.

I'm not selling Chinese dominance as a good thing I was just pointing out what is happening. All according to WSJ.

1

PerfectChicken6 t1_je9f9ba wrote

t is generally recommended to approach all sources of information with a critical eye and to verify the credibility and accuracy of their claims through multiple sources before accepting them as true.

1

good_for_uz t1_je9fjqf wrote

I agree, that is why they cite their sources and any amount of time spent looking into what I've said will show it's true.

I'm sorry you think I'm lying but these are all facts based on statistics ( if the statistics are false then what can we go on) and I'm not pro China in fact I'm worried for the future if these facts are true

2

Bring_Bring_Duh_Ello t1_jea0lie wrote

Once again, these are projections, interpretations and general bull shit.

One who is strong doesn’t need to constantly project strength. Said differently, a yuan backed agreement with Brazil is not representative of anything, except that Brazil is dumb enough to sign up.

−1

Elsewhere3000 t1_jeaf1xz wrote

They are on track to pass the US GDP by 2035 per Goldman Sachs. It’s not a projection it’s an upward trend.

0

Bring_Bring_Duh_Ello t1_jec4v6x wrote

This has been projected since 1990 and the date continues to be pushed back. The aging population will only make this more difficult if not impossible. In 2035 they will be fully realizing this reality. Come back and remind me when it happens.

1