
Ep 13: Capital Wars - The Rise Of Global Liquidity (with Michael Howell)
Library of Mistakes
Transacting in RMB
China has had the option to hold it now I think since 2014. They've chosen not to hold it, so we go forward the next couple of years. We see exactly these arrangements taking place for people to transact directly with China and rent them B. But they can't really do that because Chinese financial markets are not large enough or deep enough in some cases. It's a little bit like saying if you measured Oxford Street in kilometers rather than miles, would it be any longer or would it be shorter? It wouldn't matter. You're just changing the units of account.
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