Chinese money only has value because China says it does. It’s not traded on the open market. It’s value is simply designated by the Chinese Government. Meanwhile 83 tons of Chinese gold was found to be copper.
They are an economic paper tiger that only has power because governments refuse to make China play by the same rules as everyone else when it comes to currency value.
“This napkin is worth 100 million of your dollars! Why? Because I said so!!”
Chinese money only has value because China says it does. It’s not traded on the open market. It’s value is simply designated by the Chinese Government. Meanwhile 83 tons of Chinese gold was found to be copper.
They are an economic paper tiger that only has power because governments refuse to make China play by the same rules as everyone else when it comes to currency value.
“This napkin is worth 100 million of your dollars! Why? Because I said so!!”
This is also how the dollar works.
That's not how the dollar works, the dollar is traded against other currencies on the open market.