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4min chapter
Michael Pettis: China's Economic Growth Model Is Dying
Forward Guidance
The D-Dollarization Narrative
By definition, China cannot invest in surpluses in Yuan or RMB. So the real question is, will it be dollars? Will it be rupees? Will it Be Brazilian or Aish? And the fact is, for all the talk, it has to be dollars. Many people think abandoning the dollar would be terrible for the US and great for China and Iran and Russia. They have it absolutely backwards. The ones who really should be forcing the world to replace the dollars is us. Americans should demand that foreigners stop acquiring American assets.
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