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 ...
Absolutely, and I think this is why a BRICS currency is inevitable long term. Countries outside US control can't continue using the dollar because US uses it as a weapon.
Absolutely, and I think this is why a BRICS currency is inevitable long term. Countries outside US control can't continue using the dollar because US uses it as a weapon.
Definitely, it's ironic that dollarization basically starts with massive adoption of the dollar.
This is like the nation state version of Microsoft's the E's
Embrace the dollar
Extend it's usage in global trade through your own financial instruments
Extinguish the original dollar
lmao
Possibly the only instance of that capitalist process being used for good lol