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Deutsche Bank becomes first foreign yuan clearing bank in Europe

tradersunion.com

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Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#71

Post by blurbleblurble »

mrtksn wrote: post #61

I have this pet theory that is fueled with ignorance but kind of make sense to me: The correct value of the USD would be adjusted to match the tech company valuations sans AI(Apple can be a good guide IMHO) when they serve 350M people instead of 8B people as AI makes software obsolete and the geopolitics and the US government behavior dismantles any network or lock in effects.

I'm interested to understand your theory better but right now the way you've expressed it is hard to make sense of for me.

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#72

Post by dana-s »

victorbjorklund wrote: post #53
BaardFigur wrote: post #48

Not a good thing. China is an authoritarian regime, which we need to reduce dependency on, not increase it.

We also need to reduce our depency on USA which is currently signaling it is a hostile nation that consider and invasion of Europe in the form of an occupation of Greenland. It is possible USA:a admin is just lying about their hostile intentions but that in itself is a reason to reduce dependence on America

The USA is also currently signalling hostilities towards Brazil. They're hostile to all.

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#75

Post by aprentic »

JimmyBuckets wrote: post #2

It 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.

China has some internal documents that address the Thucydides Trap with a Chinese idiom, "There are no just wars in the Spring and Autumn Period."

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#76

Post by thehumanmeat »

kibwen wrote: post #37
FrustratedMonky wrote: post #17

The end of the Petro Dollar? Soviet-China-Iran - Petro Yuan? /edit for the pedantic. Russian Federation.

There won't be a petro-anything. In 30 years the oil industry will no longer be the resource upon which the whole world turns, and will instead be just another industrial input.

There was never a petro-anything. It's always been and is the Eurodollar global reserve currency. https://en.wikipedia.org/wiki/Eurodollar

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#77

Post by budsniffer952 »

pizzathyme wrote: post #22

The 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.

Losing the reserve currency doesn't happen in a vacuum. It happened to the British and Dutch because their empires were dismantled.

So, yeah, it could happen to the US, slowly, over time (it already is). But nobody wakes up tomorrow and says they no longer want USD. Where are you parking the money, yuan?

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#78

Post by lenerdenator »

blahblaher wrote: post #68
lenerdenator wrote: post #55

Ah, yes, the best way to react to increased authoritarianism in the US is to checks notes begin doing more business with a country that is the final word in authoritarianism.

the big difference is that China is not bombing anyone, and causing chaos to it's allies..

> not bombing anyone

Not that they wouldn't bomb Taiwan if they thought they could get away with it. The reason they can't, of course, is that doing so carries the risk of starting a thermonuclear war with the United States.

> causing chaos to it's [sic] allies...

Well, there's two ways to think about this.

1) China doesn't really have allies. They've a long history of pissing off their neighborhood extending back centuries.

2) They very much are causing chaos to allies, given that the Vietnamese went so far as to buy American military goods to help defend their portion of the South China Sea, which China sees as theirs.

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#79

Post by JimmyBuckets »

WJW wrote: post #70
JimmyBuckets wrote: post #43

Earlier quoted context omitted.

Essentially its the idea that the interaction between an incumbent power and rising "challenger" power inevitably leads to war between the two. I was expressing my hope that if this does happen, the war can play out in less destructive arenas - one of which is in the competition for reserve currency status which the US has held for the whole of the modern era. This article possibly points at China's first shots in th…

The obvious counterexample would be the previous most powerful empire in the world (ie the UK) ceding that title to the USA after collapsing after WW2? No war between the UK and the US was needed.

The UK was a declining power that had been absolutely gutted by war and owed huge debts to the US that it had accrued to fund the war. I believe Thucydides Trap is more about the situation we have now with the US and China where both are moving from strength to strength.

Re: Deutsche Bank becomes first foreign yuan clearing bank in Europe

#80

Post by tdeck »

kklisura wrote: post #31

If there's one thing you can do now that will set you up for the next 20–30 years: it’s learning Mandarin.

The trouble is that a billion people speak Mandarin already and many of them speak very good English as well, so your own skillset as a second language learner isn't very likely to be valuable. Unfortunately learning any language is rarely a valuable market skill on its own.
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