LIVE: China Bets Billions on Dollar's Decline in New US Rivalry Front | Vantage with Palki Sharma
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LIVE: China Bets Billions on
LIVE: China Bets Billions on Dollar's Decline in New US Rivalry Front | Vantage with Palki Sharma
China is opening a new front in its rivalry with the US, this time targeting the US dollar's dominance. Through its state-owned banks, China has placed over $100 billion in bets against the dollar since the last year, hoping to weaken it and strengthen the Yuan. This strategy, known as "shorting" a dollar, involves swapping a currency (Yuan, in this case) with the dollar and waiting for the dollar's value to fall over a period of time. If and when the dollar weakens, Beijing would profit on the difference. Experts believe this isn't exactly "currency warfare," but rather a defensive move by Beijing. China's Yuan has been losing value recently due to a slowing economy and increased demand for dollars. By weakening the dollar, China hopes to make the Yuan relatively stronger. However, this strategy carries risks. If the dollar continues to strengthen, Beijing could lose billions, as some estimates suggest they already have.
The economic relationship between the US and China has been deeply intertwined for years. However, recent events like the US-China trade war and a push for American companies to reduce reliance on Chinese manufacturing point towards a growing rift. On Vantage tonight, Palki Sharma brings you more.
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Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
The show is anchored by Palki Sharma, Managing Editor, Firstpost.
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