The Chinese currency that pretends to be real money while being propped up by capital controls, manipulation, and sheer authoritarian willpower.
The Chinese currency that pretends to be real money while being propped up by capital controls, manipulation, and sheer authoritarian willpower.
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The monetary unit that proves central planning works great until it doesn’t, then requires even more central planning.
The currency that requires a Great Firewall just to keep its value from collapsing in broad daylight.
The reason rich Chinese buy real estate in Vancouver, London, and New York — because they don’t trust their own money.
The currency that loses value the moment Beijing stops telling banks what the exchange rate should be.
The “international reserve currency” of the future that can’t even buy you freedom to leave the country.
The currency that China insists is ready to replace the dollar while simultaneously making it illegal for its own citizens to move large amounts of it.