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Keith Preston on China's yuan taking on the US dollar

News Sight

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The Future of Chinese Economic Dominance

If Latin American and the Caribbean generally fall under Chinese financial influence, what do you think would become of life in the US on a day-to-day basis? Well, yeah, we have models for that. Just look at parts of the world where, say, Chinese financial institutions are dominant in particular countries. A good example is the Philippines. And even though the Chinese are only about 1% of the population of the Philippines, the Filipinos hate the Chinese because the Chinese are dominant financial sector of the Philippines. Now, the government of the Philippines is completely independent. It's not in any way Chinese protect or anything like that.

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