Nyugtass meg, hogy az eredeti szöveg "hat drop" volt! Amúgy "egy szempillantás alatt" a drop nem csak csepp, hanem leejteni is.
Így szerepel a szövegben "drop of a hat". Nem ismertem ezt az angol kifejezést, de így legalább van értelme is. Simán csak a google fordítóból másoltam. Amúgy most vettem csak észre, hogy fizetős az oldal. Viszont érdemes próbálkozni az oldal frissítgetésével, néha bedobja fullba a szöveget. Ki is másoltam, ha esetleg érdekel:
Here are some random stories that I have been reading the past few weeks about the Chinese currency.
The yuan has surpassed the euro to become the second-largest currency in the foreign reserves of Brazil, South America’s biggest country. As China’s 10th-largest trading partner and a key supplier of iron ore and soybeans, it is increasingly using the yuan for settlements in trade and investment.
Largely because of Western sanctions and being excluded from much of the global financial system, Russians have turned to the yuan as the currency of choice. It has replaced the US dollar as the most traded currency in the country, with almost all the big banks offering services and deposits in the yuan.
As Russian President Vladimir Putin described the outcome of his meeting with Xi Jinping in Moscow, “We are in favour of using the Chinese yuan for settlements between Russia and the countries of Asia, Africa and Latin America.”
As ‘de-dollarisation reflects cracks’ in US dominance, yuan makes inroads
4 Apr 2023
Last week, France’s TotalEnergies completed its first deal in yuan with the state-owned China National Offshore Oil Corporation (CNOOC) involving 65,000 tons of liquefied natural gas (LNG) from the United Arab Emirates. The French oil major said it was done at the request of CNOOC, and the Chinese side said it would set a new precedent for future transactions. Meanwhile, the Saudis are toying with selling more oil to the Chinese using the yuan.
Some observers, especially patriotic Chinese, like to claim the almighty yuan or “petro-yuan” is coming. But reports about the demise of the almighty dollar or petrodollar are greatly exaggerated. Individuals, companies and economies naturally prefer to trade in currencies that are freely convertible and highly liquid. By design, the yuan is neither, mainly because of domestic policy choices and economic restrictions. At least that’s the economics; everyone wants to keep the costs of transaction low.
But more countries want to de-dollarise not because it is economically sound, but to escape the clutches of the gangsterism of US foreign policy, which in the past two decades has weaponised its global dollar dominance with increasing abandon.
Forget international law and trade rules; the US now slaps sanctions on individuals, companies and countries at will, and freezes them out of the global financial system at the drop of a hat. But that’s not all; it now feels free to tell countries and companies around the world who they can and cannot trade with. That significantly goes beyond unilateral sanctions and embargoes as traditionally understood. Ironically, at a time when Washington increasingly flouts international law and trade rules, it’s talking incessantly about protecting “the rules-based international system”.
And, as Russia, Afghanistan and Venezuela have found out, the US can simply confiscate their state assets or else make its allies such as Britain do it. Cuba, of course, knew all about that back in the 1960s.
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So, while the yuan has a very long way to go to become a dominant trade and reserve currency, its substitute as an alternative for governments and entities not in the good graces of Uncle Sam could be very practical and useful.
Of course, because of the unique status of the greenback, Washington may yet have a long time to abuse its financial position on the world stage, by accumulating national debts unimaginable for any other country without causing runaway inflation, and financing its vast military industrial complex; and by weaponising the dollar as an instrument of foreign policy and as a substitute for military action, that is, the proverbial “boots on the ground”.
How China’s yuan stands to gain with US Fed’s tightening ‘coming to an end’
24 Mar 2023
But the US is being short-sighted. The world loved the dollar at the end of the second world war because the US was willing to offer public goods (for much of the world outside the Soviet sphere) and make private gains for itself. When the latter outweighs the former for the US, more countries, especially those in the Global South, will seek alternatives.
At the turn of this century, roughly 70 per cent of the global currency reserves were in the US dollar. Today, despite all the talk about de-dollarisation, it’s still only slightly below 60 per cent. Meanwhile, the yuan only makes up a meagre 3 per cent. So perhaps the US can be complacent and arrogant about it.
But things may go gradually for a long time, and once a threshold, usually unpredictable, is reached, collapse comes swiftly. Lenin supposedly said: “There are decades where nothing happens; and there are weeks where decades happen.”
That applies as much to revolutions as financial regime change and collapse. And they almost always come without warning.
