by Summary:
Stories about the imminent replacement of the USD as the global reserve currency abound. In some circles it is the consensus reality. Martin Armstrong sets a questioner straight. China is on the rise and it will become the financial capital of the world after 2032. However, it has a long way to go. China can price every commodity in yuan and demand all trade deals are in yuan. That still will not displace the dollar. The center core issue behind the dollar ironically in the US National Debt. For now, this is the place institutions can park their money. You can trade in any currency, but where do you park your profits? China will displace the USA as the financial capital of the world when (1) people begin to trust China as a place to park money. Martin Armstrong provides a good
Topics:
Mike Norman considers the following as important: China, Dollar hegemony, global reserve currency, US
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Stories about the imminent replacement of the USD as the global reserve currency abound. In some circles it is the consensus reality. Martin Armstrong sets a questioner straight. China is on the rise and it will become the financial capital of the world after 2032. However, it has a long way to go. China can price every commodity in yuan and demand all trade deals are in yuan. That still will not displace the dollar. The center core issue behind the dollar ironically in the US National Debt. For now, this is the place institutions can park their money. You can trade in any currency, but where do you park your profits? China will displace the USA as the financial capital of the world when (1) people begin to trust China as a place to park money. Martin Armstrong provides a good
Topics:
Mike Norman considers the following as important: China, Dollar hegemony, global reserve currency, US
This could be interesting, too:
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Stories about the imminent replacement of the USD as the global reserve currency abound. In some circles it is the consensus reality. Martin Armstrong sets a questioner straight.
China is on the rise and it will become the financial capital of the world after 2032. However, it has a long way to go. China can price every commodity in yuan and demand all trade deals are in yuan. That still will not displace the dollar. The center core issue behind the dollar ironically in the US National Debt. For now, this is the place institutions can park their money. You can trade in any currency, but where do you park your profits?
China will displace the USA as the financial capital of the world when (1) people begin to trust China as a place to park money.
Martin Armstrong provides a good answer but surprisingly omits mention that the People's Bank of China still pegs it currency to the American dollar.
Wake me up when China drops the peg.
Armstrong Economics
Will China take over US as the top Superpower
Martin Armstrong