Meanwhile I know people in China who are very desperate to get their hands on USD, CAD, EUR, GBP etc.
Anedoctal evidence I know but I have a friend who has strained relations with his relatives in China because he refused to launder if you would call it that money. I think each person has a limit on the amount of money transferred.
I mean these people have never left China, why the hell do they need USD. Make what you wish but until the yuan becomes attractive to their own people other currencies are of no threat.
Because there are limits to how much money you can take out of China, and whenever there’s a limit there’s people trying to circumvent them? It’s not rocket science.
Meanwhile I know people in China who are very desperate to get their hands on USD, CAD, EUR, GBP etc.
Anedoctal evidence I know but I have a friend who has strained relations with his relatives in China because he refused to launder if you would call it that money. I think each person has a limit on the amount of money transferred.
I mean these people have never left China, why the hell do they need USD. Make what you wish but until the yuan becomes attractive to their own people other currencies are of no threat.
Because there are limits to how much money you can take out of China, and whenever there’s a limit there’s people trying to circumvent them? It’s not rocket science.