Ray Dalio – China will vie to become financial center

Financial Times/Robin Wigglesworth

“China will emerge as a rival to New York and London as the world’s financial centre, according to Bridgewater founder Ray Dalio, who is betting heavily on what would be an epochal shift in the global economy.”

USAGOLD note: And the yuan will present a challenge to the dollar, as we have commented previously, based on new trade agreements China has signed with the European Union and the rest of Asia. China’s maneuverings could eat into the market for the dollar, and, by proxy, bode well for gold over the longer term. The yuan is up sharply since its June lows.

U.S. Dollar / Chinese Yuan
(one year)
line chart showing the yuan's rise against the dollar over the past 12 months

Chart courtesy of TradingView.com  • • • Click to enlarge

Repost from 1-12-2021

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