Sunday, October 15, 2023

Chinese Yuan needs more open trading to compete with the US Dollar

I own a lot of US dollars, but I know that the era of the US dollar is coming to an end. No currency stayed on top forever, no more than 100-150 years – none in history…

But I don’t see another currency at the moment that can compete except the Chinese currency but the Chinese yuan is a blocked currency. You can’t just buy and sell it like you can euros or dollars or something. 

So until China completely opens its currency, I don’t its practice. They’re doing it, they’ve been doing it for 20 years. Not enough if you ask me, but it’s the only currency that I see on the horizon that someday can compete with the US dollar. I hope something else comes along, but I don’t see it yet.