China runs massive trade surpluses with North America and Europe. Those markets pay in US Dollars or in Euro. Every day China earns about $2.7 billion USD ...
Agree there, not there is some validity to the idea of China using USD reserves to take over IMF debt. Using cash reserves to buy out debt in Africa and South America then renegotiating those loans on better terms with payment in local currency or Yuan.
Yeah, I think it’s pretty obvious that BRICS isn’t going to use some half baked crypto scheme as their reserve. I expect that something along the lines of Bancor is most likely.
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why are euros stupid? (not the people)
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Agree there, not there is some validity to the idea of China using USD reserves to take over IMF debt. Using cash reserves to buy out debt in Africa and South America then renegotiating those loans on better terms with payment in local currency or Yuan.
Yeah, I think it’s pretty obvious that BRICS isn’t going to use some half baked crypto scheme as their reserve. I expect that something along the lines of Bancor is most likely.