The US$ is no more than a counterfeit currency and the USA is the biggest counterfeiter in history. But blaming others is just a ploy to distract the reality.
That means the USA is also the biggest currency manipulator in the world, but it is trying to tarnish China as a major currency manipulator by keeping its Yuan low to help its manufacturing to compete globally. Again, after decades of enjoying cheaper Chinese products with a strong dollar and a weaker Yuan, the USA is turning around to bite the hand of China. In the face of the tariff war, China is now weakening the Yuan further to make its manufacturing more competitive. This is good news for BRICS and the Global South countries, with China exporting its deflation to benefit them.
The BRI was a very strategic move by China. With the BRI, China also found an alternative way to recycle its trade surpluses, without the danger of further investments of those surpluses into USA Treasuries and assets. This move made the USA paranoid and nervous, resulting in the manifestation of the debt trap mantra to demonize China.
With China moving its surplus of US$ from trade into helping poorer countries with infrastructure means China is killing two birds with one stone - firstly getting a safer investment alternative besides USA Treasuries and other assets, with secondly lifting more out of poverty of those countries with infrastructures that will benefit China in trade in the longer term. This is what I always say about China thinking long term and far ahead, building a strong foundation for what it intends to move forward towards.
Anonymous
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