In China, fears of financial Iron Curtain as U.S. tensions rise
“A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system – a devastating prospect once considered far-fetched but now not impossible.”
USAGOLD note: It is difficult to guess what might happen in the world of finance if some of the worst-case scenarios floated in this article were to actually occur – including China attempting to advance the yuan as a real competitor to the dollar. We have even seen some speculation (not in this article) that it might try to introduce a gold-backed yuan to raise the currency’s credibility in the eyes of international investors.
Repost from 8-13-2020