Can China’s ¥ Replace $US ? China has an Achilles Heel That Offsets its Threat to U.S
Outwardly China is celebrating sterling pandemic recovery: The Chinese regime is extending its production (and often its authoritarianism) into various countries that lie on its ‘Belt & Road Initiative’ routes. It continues to attract significant foreign investment, particularly from the U.S. The IMF has projected over 8% GDP growth for China for 2021. These are among the factors driving its optimism about overtaking the U.S. dollar with the Chinese Yuan in global markets. However, global trade economist and China commentator, Solomon Yue offers us his very different take on China’s economy and shows us why all may not be as it appears. Why are so many of China’s officials sending their wives, their concubines, and their legitimate and illegitimate children to live in the U.S.? And what’s the hidden connection between this and the military balance of power between the two countries?
Outwardly China is celebrating sterling pandemic recovery: The Chinese regime is extending its production (and often its authoritarianism) into various countries that lie on its ‘Belt & Road Initiative’ routes. It continues to attract significant foreign investment, particularly from the U.S. The IMF has projected over 8% GDP growth for China for 2021. These are among the factors driving its optimism about overtaking the U.S. dollar with the Chinese Yuan in global markets. However, global trade economist and China commentator, Solomon Yue offers us his very different take on China’s economy and shows us why all may not be as it appears. Why are so many of China’s officials sending their wives, their concubines, and their legitimate and illegitimate children to live in the U.S.? And what’s the hidden connection between this and the military balance of power between the two countries?
