Why the Yuan will never be the international currency

I came across this young Chinese guy telling it like it is. I think it might be a cultural meme that has been in operation for generations in China. China has tightened up, simply because the rich were exchanging their Yuan for dollars and getting out. This will if let to continue to impoverish China. Now they have limits on how much can leave. The CCP are all incredibly rich but the middle class knows the score and will tend to get out if they can.It also means that if the CCP is to remain in control they have to continue a hard-line stance to keep their power and positions. This will eventually be counterproductive as the youngsters can't seem to be bothered with it anymore, knowing they have a bleak future and are just going through the motions. An interesting clip. www.bitchute.com...

some countries are trading with it in asia already

a reply to: musicismagic

So how does that work if they have a limit on what they can take out of the country?

originally posted by: anonentity
a reply to: musicismagic

So how does that work if they have a limit on what they can take out of the country?

I'M PUZZLED BY THAT ALSO.
Disney, how are they moving their money into the USA?

a reply to: anonentity

This right here. I've seen a few people on TikTok, who are Chinese, saying the same things. The rich are locked in and can't escape with their money.

Also to be a reserve currency, people have to buy Chinese bonds. And right now there's reluctance to buy Chinese bonds due to G7 restrictions. Unless there's some massive change to China's government. I don't see the Yuan being a reserve currency.

a reply to: musicismagic

They aren't a Chinese company.

a reply to: anonentity

Everything we say about China we need to look at ourselves.

Anyone try to buy Euros lately? It is a massive pain! I had no clue how hard it would be to buy Euros!

a reply to: JAGStorm

The thing about China is that the harder they batten down the hatches, the worse things have to be. Historically speaking first comes the censorship and then comes the thuggery to enforce it. Then more and more extremes until the situation gets volatile, then someone lights the place up. Then they run around too busy to do anything else but put the fires out. Same old I guess. We in the West have been lucky but we do seem to be heading down that rocky road since the checks and balances have been removed.
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Seems nuts, considering BRICS is currently the largest, i.e. doing the most business, trading block. If that trend continues, the currency of the largest partner would be a WRC contender. But if the WRC is not gold or oil backed, what then does a WRC mean? I think that eminently, there will not be any WRC with no national interests involved in the money supply, how money works or how goods, commodities, services etc are traded or paid for.

The issues affecting the young in the examples given are echoed around the world. This next generation are having too much loaded on their shoulders. It really is not their fault their governments have screwed their countries into the ground for their corporate or ideological friends. Just as it is not the fault of their parents.