Thailand and China ditching the dollar

[Srikcir]

3 hours ago, Mike Lister said:

they are not going to see the back of USD for a long long time.

In 2022 China had a 3% annual growth rate, down from about 8.5% for 2021 versus about 2.2% for 2020. Yuan has shown itself to be very volatile. As does the ruble, especially due to Western sanctions and disruption of oil refineries industry by Ukraine. Meanwhile the USD has shown itself a solid currency backed by a four year surging economy. 

The primary strength of BRIC currency is Russia and Saudi Arabia with their oil resources.

However, energy only constitutes 15% of global trade with the US in 2023 producing 22% share of world total compared to 2nd and 3rd ranked Saudi Arabia and Russia respectfully. 

See full article "De-dollarization Dreams: Why the US Dollar Won't Bow Out," by Shaoyn Yuan, Sept. 13, 2023 https://thediplomat.com

 

[John Drake]

29 minutes ago, BritScot said:

You are a brave man. China is the capital of fake and you would risk buying gold from there. Just watched a YouTube of a Chinese woman cutting her gold bar to find a silver core. When you buy gold you buy from reputable supply countries. Swiss, UK, Canada, USA etc Germany is also trusted as is Australia. China = fake: rice, eggs,  meat even noodles.  They have also saturated the pharmacy industry with fake medicines including life saving medicines which havedirectly caused peopleto die.  Good luck with China. 

 

For years fake gold bars filled with tungsten have been coming out of China. They've even faked themselves out.  

Quote

The 83 tons of purportedly pure gold stored in creditors' coffers by Kingold as of June, backing the 16 billion yuan of loans, would be equivalent to 22 per cent of China's annual gold production and 4.2 per cent of the state gold reserve as of 2019. In short, more than 4 per cent of China's official gold reserves may be fake. And this assume that no other Chinese gold producers and jewelry makers are engaging in similar fraud, the report said.
https://economictimes.indiatimes.com/news/international/world-news/chinas-biggest-gold-fraud-4-of-its-reserves-may-be-fake-report/articleshow/76707339.cms?from=mdr

 

 

[Mike Lister]

8 minutes ago, Chetzee said:

I spend lots of time in china ... tomorrow is not coming quickly I assure you ...... in the mean time the factories that supply me continue to insist on payment in $  and one in £    primarily so they can deposit their profits in Hong Kong ....    and elsewhere for safe keeping . 

Yes of course, but there's a big difference between small Chinese suppliers wanting to skirt currency controls in China and the country of China wanting to move away from a USD base for their currency.  FWIW I lived in Beijing for three years, I saw first hand how quickly things change. I've sat in the revolving restaurant of the Oriental Pearl in Shanghai and watched the worlds supply of cranes building out the skyline, the rate of change is some areas was breathtaking.

[John Drake]

32 minutes ago, BritScot said:

Time to stop giving Thailand aid.

 

They don't get much aid. The do get trade preferences, Foreign direct investment from the US, and enjoy a huge trade surplus. That latter, especially, could be easily "adjusted" were the US to discover the necessity for lengthy import inspections, quality control stations, and environmental regulations. That's what China does.

Edited May 24 by John Drake

[StayinThailand2much]

5 hours ago, NoDisplayName said:

Why not?

 

You can buy gold online on Taobao and have a robot delivery van bring your shiny precious to your home the next morning (...)

 

Why not watch one of the numerous clips on social media about fake gold bars and jewellery being sold to customers in China...

[NoDisplayName]

35 minutes ago, BritScot said:

You are a brave man. China is the capital of fake and you would risk buying gold from there. Just watched a YouTube of a Chinese woman cutting her gold bar to find a silver core. When you buy gold you buy from reputable supply countries. Swiss, UK, Canada, USA etc Germany is also trusted as is Australia. China = fake: rice, eggs,  meat even noodles.  They have also saturated the pharmacy industry with fake medicines including life saving medicines which havedirectly caused peopleto die.  Good luck with China. 

 

China bad.

 

Quote

 

The historic Perth Mint is facing a potential $9 billion recall of gold bars after selling diluted or "doped" bullion to China and then covering it up, according to a leaked internal report.

Four Corners has uncovered documents charting the WA government-owned mint's decision to begin "doping" its gold in 2018, and then how it withheld evidence from its largest client in an effort to protect its reputation.

 

 

Oh, wait.

[dinsdale]

Once again an incorrect article. It is all ASEAN nations considering this and it's being pushed by Indonesia. China saying they are going to do this is old news.

[IAMHERE]

I'd expect Thailand to find some way to unload any Chinese tourist money.

[dinsdale]

19 hours ago, dinsdale said:

Once again an incorrect article. It is all ASEAN nations considering this and it's being pushed by Indonesia. China saying they are going to do this is old news.

I got the old confused emoji from someone so here's more info to unconfuse you. I said this article is incorrect and it is. It's ASEAN nations wanting cross border currencies and as I said Indonesia is pushing this.

An official meeting of all ASEAN Finance Ministers and Central Bank Governors kicked off on Tuesday (March 28) in Indonesia. Top of the agenda are discussions to reduce dependence on the US Dollar, Euro, Yen, and British Pound from financial transactions and move to settlements in local currencies.

The meeting discussed efforts to reduce dependence on major currencies through the Local Currency Transaction (LCT) scheme. This is an extension of the previous Local Currency Settlement (LCS) scheme that has already begun to be implemented between ASEAN members.

https://www.aseanbriefing.com/news/asean-finance-ministers-and-central-banks-consider-dropping-us-dollar-euro-and-yen-indonesia-calls-for-phasing-out-visa-and-mastercard/

 

[Eric Loh]

As an importer, I find paying in local currencies has much lesser exchange risks. USD fluctuation is highly disruptive for business. For years I have been importing products from Malaysia and paying in MYR. The exchange between Baht and MYR has been much less volatile and been helpful in managing my finance. This Thai and China agreement will be meet with lots of approvals from local comapnies that do business with China. 

Edited May 24 by Eric Loh
wrong word

[hotchilli]

2 hours ago, AhFarangJa said:

I have already started investigations about Cambodia, only 35 km. from me.

Same... Cambodia or Philippines.

Early days for me, but next year my pension starts and I'm getting a tad bored of the IO bureaucracy after 16 years here, time for a change I think.

Edited May 24 by hotchilli

[Hummin]

6 hours ago, Chetzee said:

no one in their right mind is going to trust the CCP to deal in RMB. when they have a long history of using currency manipulation to prop up their export economy every time the  *hit hits the fan ..... just sayin' !

Ehm, do I have to remind you the economic recessions created by ? 

 

And who paid the bill? I have been through 3 recessions (included covid where I just shut down my last business before I spent to much keeping it alive), and I cant say I trust today financial situation, but at leadt Im well prepared this time for the next one.

[Chetzee]

16 minutes ago, Hummin said:

Ehm, do I have to remind you the economic recessions created by ? 

 

And who paid the bill? I have been through 3 recessions (included covid where I just shut down my last business before I spent to much keeping it alive), and I cant say I trust today financial situation, but at leadt Im well prepared this time for the next one.

so China created it ...... and you paid the bill ... is that it ? 

[stat]

7 hours ago, retarius said:

IF you use the dollar, you are always at risk of having your dollar assets frozen by the west. These is no debate about it, no evidence presented, no international body pontificating on the issue.....the US wills it for good or evil and the west do it. So using the dollar you sacrifice your sovereignty to the US. 

So what exactly do you propose instead? Using the malay ringit, russian ruble etc? You are always at risk from the issuing government. EUR and USD appear to be the safest hand in terms of usability. There is a risk even in those currencies.

[ibjoe]

From 1944 to 1971 the dollar was backed by gold, and so was the international choice, per the Bretton Woods Agreement. But then, unfortunately, USA president Richard Nixon cancelled that, making the dollar fiat currency (it has no intrinsic worth, it's only value is what people agree on). This fiat dollar is great for financial corporate games to extract money from the system, including by inflation. As usual, this means poor people get poorer while rich people get richer. Poorer people generally do actual work, providing services and products. Rich people generally parasitically extract money from the system e.g. by corporate / financial investments, etc. without doing any actual work. That's they way the game is, if you don't participate e.g. by investing, etc. then you slowly lose. Inflation generally rises faster than wages, so if you are a worker your effective income continually diminishes. If your cash isn't invested in something with a return rate at least as much as inflation, then it's losing value. USA government has the "I-Bond", which guarantees return of at least inflation, but only $10k per calendar year investment is allowed. My physical gold and silver has slightly bettered inflation.

[connda]

In order to trade in dollars countries must have USD reserves.  With the US sanctioning everyone and their brother who doesn't follow their rules in the Rules-based International Order (We make the rules; you follow the rules or else) or they and their G-7 allies keep freezing the USD assets of sovereign nations (for not following their rules), the BRICS+ and nations in the Global South and other non-aligned nations are going to simply stop using the US dollar. They writing is on the wall.  It's not safe to hold USD reserves. It won't happen over-night, but more and more countries will opt for trading in local currencies or when the BRICS+ matures they'll probably establish a common economic form of currency transfer.  Most countries globally understand the Ledeen Doctrine and as such are making long-term plans to unhook from "The Golden Billion" in the West and establish trade with the other 6 Billion world-wide.

[Gknrd]

China Russia and other countries that are planning a war are doing this to mitigate the collateral damage. Now Russia is being held accountable, and the West is trying to confiscate their cash.  If Thailand wants to jump on board more power to them.  In a war time economy against the West it is a good move if you can pull it off. 

Problem I have with Thailand being joined at the hip with China is if and when there is a conflict they will just freeze all western cash. Expats and businesses will loose it all . And it is heading in that direction very fast.

I would not want to be caught in SE Asia as things deteriorate. 

 

China threatening war and rattling their sword, Russia at war.  Thailand opening up to China and Russia. Who in their right mind would jump into that time bomb if from the west.  

Edited May 24 by Gknrd

[BigBruv]

13 hours ago, Pouatchee said:

 

and how will you pay for it?

monopoly money?

 

$ is monopoly money - they print it from nothing but only backed by force.

 

Since they've stolen Russian reserves to fund the proxy Ukraine war no one trusts the US not to do the same to them,

US did similarto the French in the early 70s when they wanted their dollars converted to gold -

that was the 1st time the US defaulted

 

So, lack of credibility/trust + nowadays US military is increasingly peopled by the likes of Rachel Levine (a former jewish bloke)

so not very scary anymore - also spread too thin doing israel's bidding.

 

Russia (natural resources)+ China (cheap workforce) will be a better bet than the US (dollar paper money printer). 

 

The israelis already have a big foothold in Russia but need to better infiltrate China before they can move operations and 

drop the US completely

 

 

Edited May 24 by BigBruv

[Srikcir]

23 hours ago, webfact said:

Thailand and China no longer want the dollar

I guess China didn't appreciate PM Thavisin's recent economic approach with the US:

• "During the bilateral meeting between the Deputy Prime Minister and Minister of Foreign Affairs and the U.S Secretary of Commerce, both sides discussed the key economic policies and priorities, as well as ways to enhance Thai-U.S. economic partnership and expand trade and investment opportunities, particularly through promoting U.S. investment in Thailand’s priority sectors vital to future economic growth, such as clean energy, electric vehicles (EVs), green economy, digital infrastructure, and semiconductor industries." (my bold) "Deputy Prime Minister and Minister of Foreign Affairs welcomed U.S. Secretary of Commerce and the U.S. President’s Export Council to Thailand," 14 Mar 2024  https://www.mfa.go.th/en/content/ussoc-2?cate=5d5bcb4e15e39c306000683c

So China doesn't appreciate Thailand doing USD trade and investment with the US. No doubt the US will not appreciate Thailand's economic backstab either. And this is just another example of Thavisin's overall awkward and ineffective international trade policies.

 

[frank83628]

9 hours ago, Gknrd said:

China Russia and other countries that are planning a war are doing this to mitigate the collateral damage. Now Russia is being held accountable, and the West is trying to confiscate their cash.  If Thailand wants to jump on board more power to them.  In a war time economy against the West it is a good move if you can pull it off. 

Problem I have with Thailand being joined at the hip with China is if and when there is a conflict they will just freeze all western cash. Expats and businesses will loose it all . And it is heading in that direction very fast.

I would not want to be caught in SE Asia as things deteriorate. 

 

China threatening war and rattling their sword, Russia at war.  Thailand opening up to China and Russia. Who in their right mind would jump into that time bomb if from the west.  

 are you American by any chance? 

 

Which country has 800 army bases around the world? which country has been involved in a war, miles from their shore for the last 50years?

[Gsxrnz]

10 hours ago, connda said:

In order to trade in dollars countries must have USD reserves.  With the US sanctioning everyone and their brother who doesn't follow their rules in the Rules-based International Order (We make the rules; you follow the rules or else) or they and their G-7 allies keep freezing the USD assets of sovereign nations (for not following their rules), the BRICS+ and nations in the Global South and other non-aligned nations are going to simply stop using the US dollar. They writing is on the wall.  It's not safe to hold USD reserves. It won't happen over-night, but more and more countries will opt for trading in local currencies or when the BRICS+ matures they'll probably establish a common economic form of currency transfer.  Most countries globally understand the Ledeen Doctrine and as such are making long-term plans to unhook from "The Golden Billion" in the West and establish trade with the other 6 Billion world-wide.

You're spot-on. A BRICS currency announcement is just around the corner. It will be pegged against a weight of gold and will severely dent the USD hegemony. Suddenly circa 50% of the world's population, GDP, oil production that are part of BRICS+ will have a trading currency that does not require them to acquire USD reserves.

 

Russia and China et al will sit back and watch the fiat USD fall in value against gold due to the printing presses being on full steam, as the BRICS currency automatically maintains its gold relativity. The theft of Russia's USD holdings was the final straw. The petrodollar is on its deathbed, and nobody seems to realize it.

Edited May 25 by Gsxrnz

[Mike Lister]

10 hours ago, connda said:

In order to trade in dollars countries must have USD reserves.  With the US sanctioning everyone and their brother who doesn't follow their rules in the Rules-based International Order (We make the rules; you follow the rules or else) or they and their G-7 allies keep freezing the USD assets of sovereign nations (for not following their rules), the BRICS+ and nations in the Global South and other non-aligned nations are going to simply stop using the US dollar. They writing is on the wall.  It's not safe to hold USD reserves. It won't happen over-night, but more and more countries will opt for trading in local currencies or when the BRICS+ matures they'll probably establish a common economic form of currency transfer.  Most countries globally understand the Ledeen Doctrine and as such are making long-term plans to unhook from "The Golden Billion" in the West and establish trade with the other 6 Billion world-wide.

That is not correct. USD was the standard for settling trade bills globally, as agreed by Bretton Woods in 1944. Since then, several other currencies have become part of that standard to where today, USD comprises only about half of the foreign currency reserves. In Thailand's case, their Foreign Currency Reserves are held in the currencies of their top 24 trading partners which includes RMB, EURO, YEN, AUD, MYR, HKD, RUP and USD....plus others. Reserves are also held in gold and SDR's, the latter being a points system that equates to any trading currency. For international comparison and IMF purposes, Foreign Currency Reserves are expressed in USD but not held in USD.

[Guderian]

19 hours ago, Sticky Rice Balls said:

im gonna try this out today at all the hawkers and massage girls on my bike ride...sorry baby your country doesnt want my USD anymore  solly!

 

Thanks or the happy ending, teelac, here's tip of a trillion (Zimbabwe) dollars! lol

[connda]

2 hours ago, frank83628 said:

 are you American by any chance? 

 

Which country has 800 army bases around the world? which country has been involved in a war, miles from their shore for the last 50years?

It's the standard trope to justify the US forever expansionism, forever wars, and forever support of the military industrial complex.  The MIC can't suck at the teats of Uncle Sam if the US doesn't have forever enemies.  The narrative goes like this:  The US must project power right up the the doorsteps of all the other countries on the planet in order to stop "evil" countries from aggressive expansionism.  Essentially they "project" what they themselves have been doing since the end of WWII onto Russia, China, Iran, DPRK, and all the countries they call "The Axis Of Evil" or other BS sloganism which justifies their 800+ bases world-wide and a military budget that when combined with dark branches of the various "intelligence" agencies exceeds $1 trillion USD a year (I won't use the world "defense" as there is nothing defensive about the US hegemon's military - it is all offensive) - then add in a few hundred billion USD more in "foreign aid" to "allies" in the form of military hardware.  The US has to have enemies in order to shovel $$$ cash into the gaping maw of the Military Industrial Complex - and yes - it is very Orwellian (for those who still can read and have read 1984 - a dystopian future vision which is getting all too uncomfortably real).

As for the US' "enemies?"  Watch countries like China and Russia as well as the nations which will comprise the BRICS+ closely and listen to what they have been saying, unflitered by the Western main-stream media.  This requires that you use multiple sources of information and includes actually listening to the leaders and foreign ministers and diplomats from these countries.  The basic tenet of what will become the BRICS economic and defense alliances is to respect the internal sovereignty of individual nations, to utilize the United Nations and International Law as the arbitrators of disputes, and above all - the engage in mutually beneficial economic trade.  What you don't hear from these leaders or their foreign ministers is any rhetoric about military expansionism or colonialism, as colonialism is now essentially a Western phenomenon - and the colonialists are losing grip on their colonies as their colonies reject colonial control and they begin the process to take back control of their countries (the French are a perfect example as nations in the African Sahel region kick both French and US militarizes out of their countries).  What fills the vacuum?  China and Russia who are offering an economic place at the BRICS+ table for those countries who want to trade and to actually develop their countries economically for the benefit of their own people as opposed to having their resources raped by Western colonial powers and put into the pockets of Western corporate benefactors and Western oligarchs. Western militaries are there to protect Western corporate interests as well as the interests of Western capitalists and the billionaire class.

Most expats from the West are basically brain-washed from the time they are born to accept that a Western liberal international order - which includes settler colonialism - is the only form of "Good" in the world and therefore their home countries have a right to fight and go to war with any other countries who refuse their yoke of "liberal democracy" (which looks more like classic Fascism).  So they laugh and ridicule anything other then the narratives regarding foreign affairs and foreign relations put forth by the propaganda arms of their own foreign offices and megaphoned to their citizens by the Western main-stream media.  So the West puts their militaries right on China's doorstep, they put their militaries right on Russia's doorstep, they put their militaries right on the doorsteps of every country in the world which refuses to accept a Unipolar Western "Rules-Based International Order" (we make up the rules; you follow them).

Now ask yourself the question:  What would the US do if a military alliance of China, Russia, and the BRICS+ nations put a military presence on the doorstep of the US?  What if they started pouring military weapons and military aid into Mexico, Cuba, Central American, and the Caribbean?  "To stop US aggression," of course!
We all know what happens - we saw it in 1962.  Yet that is what the US and its allies have been doing since WWII and then accelerated their military expansionism after the fall of the Soviet Union.  And their justification?  "To stop foreign expansionism."  You can't make this s**t up.  It reads better than fiction.

So It really amazes me that expats living in Thailand, the ones who viscerally hate China and who believe that their countries must go to war with China if China dares to reintegrate their break-away island of Taiwan (an island which only 12 countries in the entire world consider to NOT be part of China), actually chose to remain in Thailand.  Why?  Because there is every sign in the world that the US with the aid of its allies plan to go to war with China - soon.  Why?  In order to "stop Chinese aggression" of course.  🙄 <head-shake>

 

So when WW3 breaks out, where are the Chinese hating Western expats going to go, what are they going to do?  When WW3 breaks out with Western military attacks on the Chinese mainland, who do you believe that Thailand will align with?  The US?  France? Australia?  Western countries that are thousands of kilometers away? The ones that are thousands of kilometers away and yet on China's doorstep and attacking the Chinese mainland?  Or the country that is 200 kilometers away? Wake up.

Edited May 25 by connda

[frank83628]

1 hour ago, connda said:

It's the standard trope to justify the US forever expansionism, forever wars, and forever support of the military industrial complex.  The MIC can't suck at the teats of Uncle Sam if the US doesn't have forever enemies.  The narrative goes like this:  The US must project power right up the the doorsteps of all the other countries on the planet in order to stop "evil" countries from aggressive expansionism.  Essentially they "project" what they themselves have been doing since the end of WWII onto Russia, China, Iran, DPRK, and all the countries they call "The Axis Of Evil" or other BS sloganism which justifies their 800+ bases world-wide and a military budget that when combined with dark branches of the various "intelligence" agencies exceeds $1 trillion USD a year (I won't use the world "defense" as there is nothing defensive about the US hegemon's military - it is all offensive) - then add in a few hundred billion USD more in "foreign aid" to "allies" in the form of military hardware.  The US has to have enemies in order to shovel $$$ cash into the gaping maw of the Military Industrial Complex - and yes - it is very Orwellian (for those who still can read and have read 1984 - a dystopian future vision which is getting all too uncomfortably real).

As for the US' "enemies?"  Watch countries like China and Russia as well as the nations which will comprise the BRICS+ closely and listen to what they have been saying, unflitered by the Western main-stream media.  This requires that you use multiple sources of information and includes actually listening to the leaders and foreign ministers and diplomats from these countries.  The basic tenet of what will become the BRICS economic and defense alliances is to respect the internal sovereignty of individual nations, to utilize the United Nations and International Law as the arbitrators of disputes, and above all - the engage in mutually beneficial economic trade.  What you don't hear from these leaders or their foreign ministers is any rhetoric about military expansionism or colonialism, as colonialism is now essentially a Western phenomenon - and the colonialists are losing grip on their colonies as their colonies reject colonial control and they begin the process to take back control of their countries (the French are a perfect example as nations in the African Sahel region kick both French and US militarizes out of their countries).  What fills the vacuum?  China and Russia who are offering an economic place at the BRICS+ table for those countries who want to trade and to actually develop their countries economically for the benefit of their own people as opposed to having their resources raped by Western colonial powers and put into the pockets of Western corporate benefactors and Western oligarchs. Western militaries are there to protect Western corporate interests as well as the interests of Western capitalists and the billionaire class.

Most expats from the West are basically brain-washed from the time they are born to accept that a Western liberal international order - which includes settler colonialism - is the only form of "Good" in the world and therefore their home countries have a right to fight and go to war with any other countries who refuse their yoke of "liberal democracy" (which looks more like classic Fascism).  So they laugh and ridicule anything other then the narratives regarding foreign affairs and foreign relations put forth by the propaganda arms of their own foreign offices and megaphoned to their citizens by the Western main-stream media.  So the West puts their militaries right on China's doorstep, they put their militaries right on Russia's doorstep, they put their militaries right on the doorsteps of every country in the world which refuses to accept a Unipolar Western "Rules-Based International Order" (we make up the rules; you follow them).

Now ask yourself the question:  What would the US do if a military alliance of China, Russia, and the BRICS+ nations put a military presence on the doorstep of the US?  What if they started pouring military weapons and military aid into Mexico, Cuba, Central American, and the Caribbean?  "To stop US aggression," of course!
We all know what happens - we saw it in 1962.  Yet that is what the US and its allies have been doing since WWII and then accelerated their military expansionism after the fall of the Soviet Union.  And their justification?  "To stop foreign expansionism."  You can't make this s**t up.  It reads better than fiction.

So It really amazes me that expats living in Thailand, the ones who viscerally hate China and who believe that their countries must go to war with China if China dares to reintegrate their break-away island of Taiwan (an island which only 12 countries in the entire world consider to NOT be part of China), actually chose to remain in Thailand.  Why?  Because there is every sign in the world that the US with the aid of its allies plan to go to war with China - soon.  Why?  In order to "stop Chinese aggression" of course.  🙄 <head-shake>

 

So when WW3 breaks out, where are the Chinese hating Western expats going to go, what are they going to do?  When WW3 breaks out with Western military attacks on the Chinese mainland, who do you believe that Thailand will align with?  The US?  France? Australia?  Western countries that are thousands of kilometers away? The ones that are thousands of kilometers away and yet on China's doorstep and attacking the Chinese mainland?  Or the country that is 200 kilometers away? Wake up.

absolutely spot on!!  thats the most factual post i've seen written in any of these Russia bad, China bad,  West is best, threads.

i expect the confused emoji is from a member that has never watched anything but their home countries news in their entire life, and think what you wrote is in a foreign language!

[PremiumLane]

What about bitcoin? hahahahahahahaha

[Lancelot01]

On 5/24/2024 at 5:19 AM, retarius said:

IF you use the dollar, you are always at risk of having your dollar assets frozen by the west. These is no debate about it, no evidence presented, no international body pontificating on the issue.....the US wills it for good or evil and the west do it. So using the dollar you sacrifice your sovereignty to the US. 

Or to China? 

[Gknrd]

Interesting concept, but the reality is anyone with any money is abandoning China, Russia for the US stock market. Kinda funny all the anti western comments here , but the reality is anyone with any sense and money are moving to the US market.   They can use propoganda and try to convince the poor but the influential and rich are pooring their money into the US market. The whole thing is a joke, let whoever wants leave the US led order. Who cares. The money from China , Russia, keep being pumped into the US economy at staggering rates... The more they hype up their cause the more the informed and rich do all that is possible to invest in the US economy.. 

 

Personally the best thing China and Russia have done for me is close the economy, use every tactic possible to control the people. All it has done is start the exodus of the wealthy out and the influx of staggering billions into the US market.. Keep up the good work...haha

 

Bottom line is the rich US investors are dumping the worthless Chinese and Russian stocks and uninvesting in their markets. It no secret it has been happening for the past few years. Personally I see China and Russia as a joke.  Controlling the uninformed masses. That is about it ...

 

Same with the Thai political system. US is pulling out. Especially the investors. All the YouTubing and hype cannot change the reality.  Thailand is using the same tactics as China. Trying to get the last dollar out of the poor and uninformed western people. Again a joke and easy to see and predict. 

Edited May 25 by Gknrd

[Gweiloman]

15 hours ago, Gknrd said:

Interesting concept, but the reality is anyone with any money is abandoning China, Russia for the US stock market. Kinda funny all the anti western comments here , but the reality is anyone with any sense and money are moving to the US market.   They can use propoganda and try to convince the poor but the influential and rich are pooring their money into the US market. The whole thing is a joke, let whoever wants leave the US led order. Who cares. The money from China , Russia, keep being pumped into the US economy at staggering rates... The more they hype up their cause the more the informed and rich do all that is possible to invest in the US economy.. 

 

Personally the best thing China and Russia have done for me is close the economy, use every tactic possible to control the people. All it has done is start the exodus of the wealthy out and the influx of staggering billions into the US market.. Keep up the good work...haha

 

Bottom line is the rich US investors are dumping the worthless Chinese and Russian stocks and uninvesting in their markets. It no secret it has been happening for the past few years. Personally I see China and Russia as a joke.  Controlling the uninformed masses. That is about it ...

 

Same with the Thai political system. US is pulling out. Especially the investors. All the YouTubing and hype cannot change the reality.  Thailand is using the same tactics as China. Trying to get the last dollar out of the poor and uninformed western people. Again a joke and easy to see and predict. 

Wow. Talk about living in an alternate reality.

[NoDisplayName]

On 5/25/2024 at 8:06 AM, Srikcir said:

I guess China didn't appreciate PM Thavisin's recent economic approach with the US:

• "During the bilateral meeting between the Deputy Prime Minister and Minister of Foreign Affairs and the U.S Secretary of Commerce, both sides discussed the key economic policies and priorities, as well as ways to enhance Thai-U.S. economic partnership and expand trade and investment opportunities, particularly through promoting U.S. investment in Thailand’s priority sectors vital to future economic growth, such as clean energy, electric vehicles (EVs), green economy, digital infrastructure, and semiconductor industries." (my bold) "Deputy Prime Minister and Minister of Foreign Affairs welcomed U.S. Secretary of Commerce and the U.S. President’s Export Council to Thailand," 14 Mar 2024  https://www.mfa.go.th/en/content/ussoc-2?cate=5d5bcb4e15e39c306000683c

So China doesn't appreciate Thailand doing USD trade and investment with the US. No doubt the US will not appreciate Thailand's economic backstab either. And this is just another example of Thavisin's overall awkward and ineffective international trade policies.

 

Your example has nothing to do with cross-border settlement between countries that are NOT the US.

 

"Ditching the dollar" for China and Thailand means they can remove $US currency exchange risk, can avoid multiple forex transactions into and out of an unneeded currency, and will be free(er) of US meddling in their sovereign transactions.

 

It does not imply that no $US will be used anywhere, anytime.

 

It does imply that China-Thai trade will be conducted in RMB and THB, and Thai-Korea trade will be conducted in THB and KRW, and Thai-US trade will be conducted in THN and USD.

 

Trade is not an all-or-nothing zero-sum game for the Chinese.  They're not the ones applying kinetic regime change for using the "wrong" currency.