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bioemerl · 3412 days ago · link · · parent · post: Dominant and dangerous: As America’s economic supremacy fades, the primacy of the dollar looks unsustainable
Kind of leaving out the fact that it's a currency manipulated by a nation well known for actively making it worth less to suit it's own needs, and clearly is in a time of trial and stress, with a slowing economy and a not-too-stable stock market being propped up as much as possible by their government. Nobody is on it because nobody wants to be. As for the yuan, China’s government has created the monetary equivalent of an eight-lane motorway—a vast network of currency swaps with foreign central banks—but there is no one on it. Until China opens its financial markets, the yuan will be only a bit-player.