Trump setting the stage for Chinese financial dominance

Discussion in 'Politics, Religion, Social Issues' started by Chew Toy McCoy, May 17, 2019.

  1. Chew Toy McCoy macrumors regular

    Chew Toy McCoy

    May 13, 2016
    Out of pure ignorance. Don’t have time for a complete history lesson here but I watched a short doc on the petroyuan. China is attempting to emulate our petrodollar that has made the us dollar the standard of international business largely due to its perceived stability. China is also propping things up with all their importing and a massive potential consumer population.

    Due to Trump’s America first/arrogance/isolationism/trade wars, that perceived stability is threatened and other country’s are starting to see China’s offer to switch more tempting, at least partially if not all in. Not Trump’s fault, but our nonstop wars now blatantly just to maintain our dollar value is getting on the world’s opinion nerves. Lastly (or maybe not) with our Oprah style “You get a sanction! You get a sanction! Everybody gets a sanction!” policy, China is more than happy to step in and fill in that needed aid.

    This won’t happen overnight but I have no doubt our government will deal with it in the worst ways possible. We’re like the global top 1% that’s dominated the world for the past 70 years trying to convince everybody our problems are the most important, which shouldn’t be shocking considering that’s how we deal with our own population.
  2. niji, May 17, 2019
    Last edited: May 18, 2019

    niji Contributor


    Feb 9, 2003
    i dont know about a petro-yuan involved strategy.

    china can overtake the USA in world economic leverage within the next 15 to 20 years.
    but it can only achieve this if it is able to adjust its Belt and Road approach to be a more truly cooperative approach rather than being 100% deceptively marketed as "win-win".
    sri lanka, malasia, laos, are early examples of a Chinese economic strategy that is simply focused on Making China Great.

    but imagine if China could take a more cooperative approach, with less usurious interest rates, and focused more on Overseas Development Assistance (ODA) more than what they are now simply doing in China's best near term self-interest only.

    in other words, the way to beat the USA long term, is to create a stable world-wide trading block that is China-centered.
    all in the same timing that the USAmerican electorate has elected an administration that is a self-centered MAGA which is contrary to how the USApetroDollar made the 20th century the American Century.
  3. Chew Toy McCoy thread starter macrumors regular

    Chew Toy McCoy

    May 13, 2016
    Here's the video I was referring to that explains it way better than I can..

    Trump feels we're being disrespected and taken advantage of, and maybe in some ways he's right, but why should the rest of the world care about American jobs and spread thin military we can never seem to say no to, and the way he's going about it isn't going to bring us more respect than maybe make other countries feel they are tired of being enslaved by the power of the American dollar. We're like the alcoholic father going into some "I work hard so...." tangent that's supposed to make up for any abuses he's doled out.

    Meanwhile China can go "Do you really want to deal with big man baby over there or join us in our open and growing economy. We would love working with you." It will take China a ways to get there partially because a good part of the world is in denial of our abusive codependent relationship. If the UN opens a therapy department we're in big trouble.
  4. stylinexpat macrumors 65816


    Mar 6, 2009
    This is what this so called tariff war is about mainly. You have the PertoYuan and their own banking system which I fully support. For their own national security they need to have their own banking system and have their own PetroYuan. If you look at the overall picture you will see that the US has this too. Imagine the US giving this up to some other country.

  5. Zenithal macrumors 604

    Sep 10, 2009
    Earlier. China is spending more and more on their own supply network to rely less on global imports to conduct their business. The short term costs, including smog, are what will allow China to economically prosper.

    And unlike other smaller and less significant nations, it isn't like China could be barred from SWIFT that would effectively cap them at the knees. That would be political and fiscal suicide globally.
  6. bambooshots macrumors 65816


    Jul 25, 2013
    No, President Donald J. Trump is not setting the state for Chinese financial dominance.

    President Donald J. Trump is calling their bluff and they don't know how to handle it.
  7. Chew Toy McCoy thread starter macrumors regular

    Chew Toy McCoy

    May 13, 2016
    Can you be more specific?
  8. SactoGuy18 macrumors 68030


    Sep 11, 2006
    Sacramento, CA USA
    Nope. Chinese banks are WAY over-leveraged and there's this 400 kg gorilla of the gigantic medical costs of all that major air and water pollution problems.
  9. bambooshots macrumors 65816


    Jul 25, 2013
    China’s yuan is in free fall, for starters.
  10. Eraserhead macrumors G4


    Nov 3, 2005
    Doesn’t look like it to me.


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9 May 17, 2019