The billboard was from the Bank of China. It said: “RMB: New Choice; The World Currency”
Given that the Bank of China is more than 70% owned by the government of the People’s Republic of China, I find this very significant.
It means that China is literally
And it’s true. The
Multinational companies such as McDonald’s are now issuing bonds in
Almost every major global player out there, be it governments or major multinationals, is positioning itself for the
But here’s the thing. Nothing goes up and down in a straight line. And China is in deep trouble right now. The economy is slowing down and the enormous debt bubble is starting to burst.
A lot of people, including the richest man in Asia, are starting to move their money out of the country.
So while the long-term trend is pretty clear – China
- Source, Sovereign Man