China's shifting to domestic consumption and strong Yuan is better than weak Yuan. Strong currency will also reduce capital flight from the country and increase its financial powers to buy world resources such as mining rights and companies abroad.
They understand how the dollar status as reserve currency helps strengthen American power. Many Chinese leaders understand the power of finance. They have used it to develop export-oriented economy and they are now using it to expand their power abroad.
China is now confident it is strong enough and has resources and relationships to counter US pressure.
They understand how the dollar status as reserve currency helps strengthen American power. Many Chinese leaders understand the power of finance. They have used it to develop export-oriented economy and they are now using it to expand their power abroad.
China is now confident it is strong enough and has resources and relationships to counter US pressure.