CHINA'S LIABILITY?

The reason the world chose the USD was that, for the most part, the US was the one making the rules of international trade and finance.

The petro-dollar is why it became so firmly entrenched as the reserve currency of first choice. Precisely why the US is so focused on the middle east, they, literally, cannot afford for mass adoption of oil settlements in any other currency.
 

overopensights

ADC
Book Reviewer
From 1992 until recently I took sea containers from about six locations in China. Chinese Traders always insisted on US Dollars, this was a nuisance, because USD had to be purchased from my Bank, I lost about 4 cents per dollar, even worse as the pound went down. I was told by the larger companies that it was a Chinese Government rule to take dollars. I still deal in China but I will only use Pounds which has worked fine for the past few years.
 
Probably because no other currency is as stable.
Because a dumping of the USD as the, overwhelming, choice for oil settlements would have a massively negative impact on US borrowing costs (via Treasuries issuance).
 
The irony. You should think before you post.

There are choices to deal outside of USD.
The US does all that it can to discourage settlement outside of USD
The overwhelming amount of oil settlements are still conducted in USD

Settlements in Yuan have increased to 10.5% of the global volume at the start of June 2020 compared to 6.2 per cent in the second quarter of 2018. It is making the USA very, very,nervous.
 

overopensights

ADC
Book Reviewer
The irony. You should think before you post.

There are choices to deal outside of USD.
The US does all that it can to discourage settlement outside of USD
The overwhelming amount of oil settlements are still conducted in USD

Settlements in Yuan have increased to 10.5% of the global volume at the start of June 2020 compared to 6.2 per cent in the second quarter of 2018. It is making the USA very, very,nervous.
The big changeover started some 8 to 10 years ago, Either China was buying natural gas from Russia or vice versa, it was a pipeline job, with further agreement between the two to buy each others energy products. After very long negotiation Russia got its way, after insisting that on deals between both countries that it should be done in their own respective currencies.
 
How to buy influence.

'Inside the dome of Belgrade's concrete fair hall, dozens of nurses in hazmat suits inject Covid-19 shots into young and old alike, working with an efficiency that has turned Serbia into continental Europe's fastest vaccinator.

'The small Balkan country has inoculated more than 450,000 of its population of seven million in almost two weeks, a rate that exceeds all other states in Europe apart from Britain, according to the scientific publication Our World in Data. One key difference is that most of the vials are filled with a vaccine made by Chinese pharmaceutical giant Sinopharm.

'As the European Union's rollout is snagged by delays and controversies, Serbia -- which lies outside the bloc's borders -- has raced ahead by turning its gaze to the East, securing deals with Chinese and Russian producers. When registering for an appointment, Serbs can tick off their vaccine of choice -- the Pfizer/BioNtech, Sputnik V and Sinopharm jabs are currently on the menu. Yet it is the latter Chinese-made vaccine that is making up the lion's share of injections after Serbia received a one-million-dose shipment in mid-January that kicked off its mass immunisation campaign.

'Serbian President Aleksandar Vucic, a populist leader who does not miss the chance to cast himself as the hero in a crisis, has framed the vaccination success as the fruit of his personal friendships and diplomacy. "I wrote to Xi Jinping in October, and the price was drastically lowered", Vucic told local media of the "good deal" he struck with his Chinese counterpart for the Sinopharm vaccine. When you see the price, you'll erect a monument in my honour one day," he added.'


With China's help, Serbia overtakes EU in vaccine rollout - France 24

'China is donating 50,000 coronavirus vaccines to Iraq, the embassy in Baghdad stated on Thursday.

"We will never forget that after the pandemic's outbreak in China, Iraqi government and people expressed their condolences and support to China in various ways," the embassy stated, explaining its gift. Iraq has not yet received any vaccines, but has approved the American Pfizer vaccine, authorized emergency use of the UK's Oxford-AstraZeneca vaccine, as well as China's SinoPharm.

'The SinoPharm vaccine is manufactured by and named after the China National Pharmaceutical Group, a Chinese state-owned company. Trials of the vaccine showed that it was 79% effective. It has been approved for use in Turkey, the United Arab Emirates, and Bahrain. The vaccine donation is Beijing’s latest support for Iraq during the pandemic. In early March 2020, China sent a team of epidemic control experts to Iraq in order to help improve a national plan for epidemic prevention, according to the embassy. And it has helped construct a testing lab and donated protective gear, including 1.4 million masks.'


https://www.rudaw.net/english/middleeast/iraq/040220213
 
Having drifted from the thread title, the lastest WHO findings have been announced.

To no-one’s surprise it seems to run contrary to previous findings, and to general expectation that the WHO, financed and controlled by China, would go along with China’s protestations, and explanations.

Some interesting points raised by someone who worked in the country for a number of years, speaks the language fluently and has a Chinese wife. He has some observations that put some very basic points over for consideration.




The robust demands by Australia that this Pandemic be investigated, has resulted in huge economic repercussions to them, perhaps highlighting the danger of becoming in any way dependent upon a dictatorship whose adherence to basic global norms is decidedly tenuous.

China’s present economic muscle is huge, its massive recent growth attributable in part to widespread cyber theft of intellectual development around the globe. It’s influence around the globe due to buying those in power.

It is a global superpower, wishes to be preeminent, and its controlling organisation the CCP non to fussy how it achieves that position.

There have been others whose doubts are being aired, Australia again perhaps less concerned with hurt feelings doesn’t hold back.


More people, news organisations, and those who have lost family and loved ones increasingly sceptical about a long delayed, investigation with a biased from within, restricted small team, from an organisation controlled and funded by China, led by a Chinese bought puppet.

The WHO findings looks like a whitewash, smells like a long dead fish, and has very shaky credibility.
 
Last edited:
Some interesting points raised by someone who worked in the country for a number of years, speaks the language fluently and has a Chinese wife.
He lived in China for less than 10 years, working as a vaguely qualified English teacher and then lost his career prospects when the Ministry of Education cracked down on unqualified teachers and the fly-by-night cram schools that hire them. He's now divorced, living in the US and making his living from monetising click-bait China bashing like this.

His Mandarin is pretty basic, enough to get by down the local grocery store or restaurant. He also goes under the handle of C-Milk and posts pretty much the same fare under that.
The WHO findings looks like a whitewash, smells like a long dead fish, and has very shaky credibility.
But you'd decided that long before they even went and would not have accepted any findings that didn't crucify the PRC. That's why you have to scramble around for ex-travel-bloggers and whoever else shares your prejudice.
 
He's clearly in the pocket of the CCP, since he hasn't instinctively blamed them for COVID, Britain leaving the gold standard, male pattern baldness and why the youth of today don't respect their elders.
 
1615297555979.png

Covid kids’ book pulped after China complains | The Spectator
 
More good news from those great, transparent humanitarians in the Celestial Empire.

'In a rare admission of the weakness of Chinese coronavirus vaccines, the country’s top disease control official says their effectiveness is low and the government is considering mixing them to give them a boost.

'Chinese vaccines “don’t have very high protection rates”, said the director of the China Centers for Disease Control, Gao Fu, at a conference on Saturday in the southwestern city of Chengdu.

'Beijing has distributed hundreds of millions of doses in other countries.

“It’s now under formal consideration whether we should use different vaccines from different technical lines for the immunisation process,” Gao said.

'The effectiveness rate of a coronavirus vaccine from Sinovac, a Chinese developer, at preventing symptomatic infections has been found to be as low as 50.4 percent by researchers in Brazil. By comparison, the vaccine made by Pfizer-BioNTech has been found to be 97-percent effective.

'Beijing has yet to approve any foreign vaccines for use in China, where the coronavirus emerged in late 2019.'


 

Latest Threads

Top