China ist auf der Mission einer „starken Währung“, um den Yuan zu einer globalen Reserve zu machen: Xi

“China needs to build a “strong currency” that can become widely used in international trade, investment and foreign exchange markets, and reach the status of a global reserve. The mission for the yuan was from excerpts of a speech by President Xi Jinping and published online on Saturday by Qiushi, the ruling Communist Party’s leading theoretical journal. Xi made the speech in 2024 to provincial and ministerial officials about building the country into a global financial powerhouse. Parts of Xi’s speeches are often reproduced to highlight national goals and this call comes as uncertainty about global financial markets and questions about the value of the US dollar are on the rise.”

Making the yuan strong but pegging it to the dollar so China can still sell its goods at a cheap cost to the largest consumer base in the world is a paradox.