FloridaWater [none/use name]

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Joined 4 years ago
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Cake day: October 8th, 2020

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  • FloridaWater [none/use name]tonews🦀 Iran dumps dollar for yuan 🦀
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    4 years ago

    US dollar's status as foreign exchange reserve and trade medium is highly unlikely to be dethroned in the mid-term (through the next decade or so), and I say this as perhaps the biggest Chinaboo on this website. China doesn't want to make Yuan the new global reserve because it means Yuan will instead become free-floating and more susceptible to trade moves from speculators.

    60% of all foreign reserves are in US dollar. https://data.imf.org/?sk=E6A5F467-C14B-4AA8-9F6D-5A09EC4E62A4







  • I don't know where you get that "middle income trapped" from. Western, less developed provinces enjoy bigger percentage development than coastal provinces and cities like Shanghai. Also, just because someone was born in Shanghai does not automatically make them "elite". They may have millions in terms of household wealth, but a majority of that is tied down in real estate. Ironically, he can sell his real estate and move to a less developed province to enjoy better quality in life due to the lower cost. Many chose to do so.

    Schools in lower tier cities also aren’t as good, it’s going to be harder to get into the top universities this way

    Provinces like Hubei, Shandong and Jiangsu routinely outperform in college entrance exams.

    there are extra spots at the top universities like Peking for students from Beijing

    Not by much. It's mostly proportional.

    let people live where they want too as they see fit

    Isn't that, you know, capitalism? It only encourages more unneeded competition in the big cities.

    do everything you can to make it all work

    That's why China is also focused on developing the inland provinces, thus solving the inequalities at its root, instead of further exacerbating the rural/urban divide.