"but at what cost" ?
Deutsche Bank becomes first foreign yuan clearing bank in Europe
21–30 of 496 posts
Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe
#22The US wields incredible negotiating power and hegemony because the dollar is the world’s reserve currency. Like the British pound and the Dutch guilder before it, if that loses reserve currency status it will be harder to borrow on favorable terms, which would affect the entire US economy. This is a big step in that perhaps starting to happen over the next few decades.
Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe
#23Earlier quoted context omitted.
Is China still rising or already in decline?
Relative to the US or Europe? I think you know the answer to that.
Relative to the US it’s not a straightforward answer but China is definitely not rising in the way it was a decade ago and has been outpaced by the us
Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe
#24It will be interesting to see how much of Thucydides Trap plays out in currency and trade as opposed to military conflict. I am hopeful that economic and financial warfare absorbs the brunt of the power struggle.
I, for one, would appreciate if we could just move on past these incessantly destructive power struggles as humanity.
Humans can not “move on” from human nature no matter how much people try to will it
Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe
#25Trump is making China great again.
Pity about the USA....
Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe
#26I wonder if it has anything to do with the currency apparently being backed by an immense reserve of oil (proven to the world by this year's geopolitical events), then coal, and then a massive amount of renewable solar, hydro, wind kWh's and infrastructure to deliver it to homes and shops.
More and more it feels like a nation's kWh throughput is the new metric to track its global influence in manufacturing, industry, and financial services. In other words electric power now equates to global power.
Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe
#27Is it a yuan or is it a Renminbi?
Both. Renminbi is the currency name, while the yuan is the base unit.
Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe
#28Earlier quoted context omitted.
It means the dollar is dying.
People have been saying the dollar is dying since the 19th century. They said it again during the Great Depression, the end of Bretton Woods and the 2008 Financial crisis..
The difference is now the US has a leader that is actively encouraging its downfall.
Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe
#29I don't like, trust or trade with China.
Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe
#30Is it a yuan or is it a Renminbi?
It's a little confusing, but technically RMB (renminbi) is the official name of the currency and CNY (yuan) is the base unit of the currency. Think of it like the difference between USD ("US Dollar") vs "dollar and cents", except there is no fractional yuan equivalent of cents, so it's all just yuan.