Translated by: MOS Education Team – Winsun
On November 15th, Miles Guo broke the news on GETTR: Recently, many countries are trying to deal with the previously subscribed RMB, and cancel the RMB swap quota with the CCP.
Many countries have large trade flows with China, and local currency swaps were created to reduce dependence on the U.S. dollar and the cost of intermediate currency transactions, as well as to address the issue of taxation between the two countries.
Miles Guo pointed out that when the currency swap quota is reduced, it means that the trade volume between the two countries is reduced. The CCP’s false economic bubble is about to burst.
Edited by: James Zoebel
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