this post was submitted on 03 Dec 2023
71 points (93.8% liked)
Technology
59390 readers
2546 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I mean, as a normal person, I can't earn Yuan in China and then convert to USD when I leave(at least this was the case for a long time), but the reverse isn't true. If you can't convert into and back out of a currency, I question how much it has to do with the global economy. A government currency swap is like swapping commodities, it isn't doing anything for other countries.
I must be out of my depth! Yuan is traded for dollars every day and there's a current scheme where it's traded/invested in the CFETS basket of 24 national currencies they do business with, so I can't make heads-or-tails of what you're talking about.