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No more dollars in China... [finances]


Externet

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You should do research what China is importing from the world, to be able to answer your question.

https://www.google.com/search?q=china+import+from+world

e.g. http://www.worldstopexports.com/chinas-top-10-imports/

"Electrical machinery, equipment: US$496.8 billion (24% of total imports)

Mineral fuels including oil: $343.6 billion (16.6%)

Machinery including computers: $190.3 billion (9.2%)

Ores, slag, ash: $163.6 billion (7.9%)

Optical, technical, medical apparatus: $98.7 billion (4.8%)

Vehicles: $75.1 billion (3.6%)

Plastics, plastic articles: $71.6 billion (3.5%)

Gems, precious metals: $60.5 billion (2.9%)

Organic chemicals: $57.8 billion (2.8%)

Copper: $40.8 billion (2%)"

 

They need dollars/euros/gold/whatever valuable, to pay world for the all these goods.

 

Say, if import is X in Y currency, and export is X in Y currency. Y is really meaningless, as entire transfer of money can be replaced by pure exchange of goods.

Edited by Sensei
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3 hours ago, Sensei said:

Say, if import is X in Y currency, and export is X in Y currency. Y is really meaningless, as entire transfer of money can be replaced by pure exchange of goods.

Thanks.

Sorry, cannot understand that.   Would't the importer and exporter need to be the same 'entity' for that to happen ?  If someone in Angola needs yuan to import tools from China and is not exporting the U.S. cattle China wants to pay with yuan,  ¿?

 

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