Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Globalization of RMB Has Become A Joke! Offshore RMB Is Out of Control as Economic Recession" video.

  1. 📉 The Renminbi exchange rate has been consistently declining since May, reaching its lowest level since 2014. 00:00 The Renminbi broke through the threshold of 1 US Dollar to 7 Renminbi on May 17th. 00:00 The onshore Renminbi has depreciated by about 4 percent against the US dollar since the start of the year. 00:20 The Renminbi is essentially at its lowest level since 2014 according to the Renminbi's real effective exchange rate. 00:35 Chinese state owned banks sold US Dollars to prop up the Renminbi exchange rate. 01:01 The idea of replacing the US Dollar with the Renminbi is unrealistic due to the dominance of the US Dollar in global currency transactions. 02:41 The Global Depreciation of Renminbi: Offshore RMB Out of Control as Economic Recession Takes Hold 📉 The US dollar remains the dominant currency for international trade, while the Chinese Yuan's internationalization efforts have not been successful. 03:29 By the end of Q1 2023, the US dollar accounted for 59% of global foreign exchange reserves, followed by the Euro, the Japanese Yen, the British Pound, and the Chinese Yuan. 03:29 China's promotion of Yuan settlements with countries like Russia, Saudi Arabia, and Brazil did not result in significant usage of the Yuan in international trade. 04:36 Russia faced economic sanctions and had limited access to dollars and euros, leading to the need to sell Yuan and purchase with other currencies. 05:33 The US dollar remains the most widely used currency for international payments, followed by the Euro, the British Pound, the Japanese Yen, and the Chinese Yuan ranking fifth. 06:02 The payment ratio of the Chinese Yuan dropped by 20% compared to two years prior, indicating a lack of significant adoption in international payments. 06:20 💰 The depreciation of the Yuan exchange rate is not a deliberate act by the Chinese Communist Party, but is influenced by the existence of the offshore Renminbi exchange rate market. 06:41 The international market's lack of capacity to accept Yuan causes the Yuan exchange rate to fall. 06:41 There is no international Yuan bond, which means holding Yuan does not earn interest. 06:54 Mainland China needs to sell something to maintain the value of Yuan, or else Yuan is sold for dollars. 07:07 China strictly limits domestic citizens' foreign currency exchange capacity. 07:49 The existence of the offshore Renminbi exchange rate market leads to the sharp drop in the Renminbi exchange rate. 09:08 📉 The decline in the offshore Renminbi exchange rate reflects China's economic issues. 09:59 Hong Kong and London are the two largest offshore Renminbi trading centers. 09:59 Factors such as Russia's significant Renminbi sell-off, Federal Reserve rate hikes, and China's economic downturn led to a decline in the offshore and onshore Renminbi exchange rates. 10:17 The uncontrolled offshore Renminbi has become a 'barometer' influencing the trend of the Renminbi exchange rate and reflecting China's economic problems. 10:34 China's economic indicators show a comprehensive decline, including lower consumer confidence, a steep drop in real estate investment, and a significant decrease in exports to the United States. 11:04 China's foreign exchange income and reserves are insufficient, making it difficult to maintain the stability of the offshore Renminbi. 13:18 📉 China's foreign exchange reserves are limited due to high foreign debt and a recessionary trend. 13:32 China's foreign exchange reserves are 3.19 trillion US Dollars, but the included foreign debt is equivalent to 2.45 trillion US Dollars. 13:32 Foreign debt accounts for 76.8 percent of China's foreign exchange reserves, limiting the government's available reserves during economic downturns. 13:49 The Federal Reserve's rate hikes and China's rate cuts have led to speculation of Renminbi devaluation. 14:08 Federal Reserve Chairman Powell's speech strengthened the US dollar and exerted depreciation pressure on the Renminbi. 14:52 China is experiencing a recessionary trend characterized by widespread industry depression and high unemployment rates. 14:58
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