S!ayer on Nostr: The Brits handle finance. The money flows through London, both legitimate and illicit ...
The Brits handle finance. The money flows through London, both legitimate and illicit flows. This then gets deposited in their banks on offshore islands they own, and good luck getting that back to London, let alone out of England.
They kept the pound whilst in the EU and were able to break away (not unscathed) but still maintain their FX rate. They also hold and deliver gold (or are supposed too) and in some instances are not returning assets to countries that are requesting them.
China is a manufacturer, they lack financing which generally comes from the UK and US. But they make goods, and they make them well - from the cheapest of the cheap to the top shelf product. But when it comes to finacing, it's a big problem (see housing crisis/Evergrande)
So demand for Yuan is quite low, because a lot of the manufacturing is usually contractual debt obligations in USD -
They kept the pound whilst in the EU and were able to break away (not unscathed) but still maintain their FX rate. They also hold and deliver gold (or are supposed too) and in some instances are not returning assets to countries that are requesting them.
China is a manufacturer, they lack financing which generally comes from the UK and US. But they make goods, and they make them well - from the cheapest of the cheap to the top shelf product. But when it comes to finacing, it's a big problem (see housing crisis/Evergrande)
So demand for Yuan is quite low, because a lot of the manufacturing is usually contractual debt obligations in USD -