MajesticPug
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I do agree with you and all those saying China holding huge amount of US debts and dollar reserves is STUPID. It's like aiming the gun at its own foot going into a fight with the US. But a lot mainland Chinese holding top posts in government (I meant, really top top posts like Xi's advisors or top decision makers) were educated in the US and Europe. These folks could only think and understand economic oerpations/transactions in the Western framework. That is... everything MUST evolve from US dollars. They can't think creatively like Russia's Treasury Minister (whom I think was brilliant advising Putin against the West's sanctions). Worse yet, these West-educated 'Chinese' might have sworn allegiance to the US or their families might have. They probably have their assets in real estate and stocks in the US. I've known many many 'Chinese' nationals from China scooping up real estates in the Los Angeles, NYC, SF Bay areas like there's no tomorrow.It’s not gold. It’s fake money. Every time US federal reserve print more China trillion loses value. Only difference is, China got trillions, US has no limit. Qadaffi in Libya and saddam in Iraq tried to challenge the world reserve currency. Rest is history. Only Saudis have the power to filp the dollars upside down but at what cost?
In another word, many of these 'Chinese' top decision makers are too invested in the US national interests that they can't deny, refute, refuse orders from DC or their family members might disappear walking on the streets in NYC, or shopping in a Beverly Hills store.