Economy

China Has Announced Plans For A ‘World Currency’

China owns around 1.3 trillion dollars of the United States' debt, but recently Chinese nationals have been heavily investing in different sectors of US economy. So, how much of the US does China own?

The Chinese do not plan to live in a world dominated by the U.S. dollar for much longer.  Chinese leaders have been calling for the U.S. dollar to be replaced as the primary global reserve currency for a long time, but up until now they have never been very specific about what they would put in place of it.  Many have assumed that the Chinese simply wanted some new international currency to be created.  But what if that is not what the Chinese had in mind?  What if they have always wanted their own currency to become the single most dominant currency on the entire planet?  What you are about to see is rather startling, but it shouldn’t be a surprise.  When it comes to economics and finance, the Chinese have always been playing chess while the western world has been playing checkers.  Sadly, we have gotten to the point where checkmate is on the horizon.

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