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by throw0101b 1011 days ago
> China is big enough that they can probably do transactions in their currency, but any week they can significantly devalue it.

There are roughly as many CAD and AUD transactions as RMB/CNY:

* https://data.imf.org/?sk=e6a5f467-c14b-4aa8-9f6d-5a09ec4e62a...

* https://www.statista.com/statistics/247328/activity-per-trad...

1 comments

Wow, thanks for posting that. I wasn't away RMB was not used that much up to now. US + Euro is 9/12 of that trading on the imf.org link. 9/12, 75%! Maybe a little of that could switch to rmb in trading with china, but as china is such a huge economy in the world, close to the US in many ways (ignoring their current problems/shrinkage), isn't the minuscule amount of RMB transactions just another sign that everyone is using dollars.

How much is the total US transactions with China, would like to compare to the charts to see theoretical maximum.