US moves to choke China’s role in electric vehicle supply chain::Strict new IRA tax credit rules aim to boost domestic industry but could slow transition from petrol
US moves to choke China’s role in electric vehicle supply chain::Strict new IRA tax credit rules aim to boost domestic industry but could slow transition from petrol
Just two weeks ago China and Saudi Arabia signed a ¥50 billion currency swap agreement lol
I mean, as a normal person, I can’t earn Yuan in China and then convert to USD when I leave(at least this was the case for a long time), but the reverse isn’t true. If you can’t convert into and back out of a currency, I question how much it has to do with the global economy. A government currency swap is like swapping commodities, it isn’t doing anything for other countries.
I must be out of my depth! Yuan is traded for dollars every day and there’s a current scheme where it’s traded/invested in the CFETS basket of 24 national currencies they do business with, so I can’t make heads-or-tails of what you’re talking about.