No. of Recommendations: 2
There is not a single mention of the Yuan
Are you implying that it would be the main currency?
Does there have to be a single “main” currency? I know it’s been that way since the end of the war (the big one, the one we won), and there was a single main currency before that: the Pound, but I wonder does it have to be one and only one?
Why couldn’t there be two, or three currencies that are seen as a haven of safety (or some variant thereof) for some period of time? I don’t know my economic history well enough to know if there was any competition for the Spanish dubloon back in its day (or whether that was even a concept back then) - and I freely admit maybe it’s the natural order of things to have “just one” (network effects, and all), but I can see a large part of the world (including investment houses which are politically agnostic to this sort of thing) coming to rely on the Renminbi (Yuan) if the dollar should nosedive thanks to the stupidity of Caligula-in-Orange. I’m sure there would be a period of hedging between several including the dollar, but I have to ask: why the $, one and only?