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by narrator
5521 days ago
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"Ordinary chinese citizens save $1T in bank deposits." Wrong. Chinese save in Renminbi. Mall developers pay builders in Renminbi. Banks potentially default on borrowers in Renminbi. Dollars are only for buying commodities, and external trade. There's 1/5 of the world's population in China who trade and do work for each other and they don't pay each other with dollars. |
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