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27-07-2022, 09:11 AM
putting money in US, are you not afraid of your money becoming their money?
Western countries planning to go to war with China shouldn't put their reserves into RMB. But countries like Saudi Arabia, Qatar, Iran, India, Indonesia etc are very vulnerable to western attacks over "human rights" and can't afford to have their reserves stolen. They will also want to stay neutral in any conflict and won't want to impose sanctions on anyone. The only safe haven for these countries is the RMB, USD or EUR can be confiscated at the whim of the US president. There is no protection of sovereign property. China has never confiscated the legal property of foreign sovereign countries.
Western countries planning to go to war with China shouldn't put their reserves into RMB. But countries like Saudi Arabia, Qatar, Iran, India, Indonesia etc are very vulnerable to western attacks over "human rights" and can't afford to have their reserves stolen. They will also want to stay neutral in any conflict and won't want to impose sanctions on anyone. The only safe haven for these countries is the RMB, USD or EUR can be confiscated at the whim of the US president. There is no protection of sovereign property. China has never confiscated the legal property of foreign sovereign countries.
