Re: Another Deal to Circumvent the Dollar

China is the largest creditor of dollars, the Communist Party won't watch the process of dollars dead

China can offload its Dollars and when the USD looses most its value in a short amount of time, the USD holdings of China will lose its value but China will be the biggest beneficiary of the dismiss of the USD because the Yuan will appreciate compared to the USD and the Chinese will enjoy an increase in their standard of livings : they will consume more

Quote from: polynesia on October 17, 2014, 01:13:25 AM

Quote from: chennan on October 16, 2014, 12:05:07 PM

China becomes the second largest economy following by the USA in terms of GDP. The increasing number of trades are conducted with yuan. The USA is falling in the steep hole of debt and will lag behind China or other countries no more than 10 years (personal opinion, no offence). Whether bitcoin will play the role of currency will depend on the policy of China and the USA.

I don't think increasing number of trades are conducted with yuan. Until China opens up its capital markets, foreign investors find little use for yuan,

The Communist Party in China is opening up the Yuan to the markets

How can they do that? Chinese cant even speak the universal language. How can they deal with the people all around the world?

You mean English? It is the "universal" language only for the last 100years or so and it may not be for that much longer

Millions of Chinese are getting kind of rich each year and tens of thousands are getting rich while Americans will get poorer or won't get richer as a whole in the coming years

English has been the language of business because english speaking countries have dominated the amount of economic growth and have very strong military might. Countries have spoken the english language as the language of business since the Brittish empire