John Hayward 28 Jun 2023
The People’s Bank of China (PBOC), central bank for the Chinese Communist regime, on Tuesday pushed a massive sale of dollars by state banks in a desperate bid to prop up the cratering yuan. China’s currency lost four percent of its value against the dollar over the past two months, a serious problem for a Chinese economy that appears to be fizzling out after early signs of post-pandemic recovery. Nervous investors have been underwhelmed by the stimulus measures Beijing has announced thus far.........To Read More....
My Take - Okay, so this is the nation that's spearheading the BRICS effort to replace the dollar as the world's currency? Imagine that.
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