How China Has Been Pushing Its Economic Agenda

[Inside Wall Street with Nomi Prins]( Welcome to Inside Wall Street with Nomi Prins! It’s the only daily newsletter featuring the insights of renowned author and former Wall Street insider, Nomi Prins. Every day, Nomi shines a light on a massive wealth transfer she calls The Great Distortion. That’s the true cause of the permanent disconnect she sees between the markets and the real economy. And she shares ways you can come out ahead, if you know where the money is flowing. You’ll find all Nomi’s Inside Wall Street issues [here](. If you have questions or comments, send Nomi a note anytime [here]( or at feedback@rogueeconomics.com. How China Has Been Pushing Its Economic Agenda By Nomi Prins, Editor, Inside Wall Street with Nomi Prins Last week, I wrote to you about China’s recent efforts to challenge the U.S. dollar’s reserve currency status. (If you missed it, you can read my two-part series on [here]( and [here]( This strategy revolves around oil. Over 90% of global oil sales are priced in U.S. dollars. Hence the term “petrodollars.” This serves as a crucial support for the dollar’s reserve currency status. But China is angling to offer its oil for sale in its own currency, the yuan. This has coined the term “petroyuan.” (You can catch up [here]( The security of the U.S. dollar features regularly in emails I get from readers. And I have written a lot about it in the past. Recommended Link [Florida man leaves crypto crowd speechless…]( True story. Florida man walks into a packed crypto conference… Pulls out his phone... And then this amazing thing happens… [image]( [Click here to watch!]( -- Now, [as I have said many times]( I don’t believe the U.S. dollar’s status as the world’s primary reserve currency is in any immediate danger. Its strength and safe-haven status will keep it in pole position for many years to come. But the petroyuan story is just part of China’s ongoing campaign to compete with the U.S. as a global superpower… I recently sent you an excerpt from my 2018 book, Collusion. It was all about China’s efforts over a decade ago to establish its currency, the yuan, on the international stage. The excerpt focused on China’s strategy to convince the International Monetary Fund (IMF) to include the yuan in its special drawing rights (SDR) basket. The SDR is made up of weighted currency units from the world’s most powerful economies. That includes the U.S. dollar, the pound sterling, the euro, and the Japanese yen. This campaign was led by then-governor of the People’s Bank of China (PBOC) Zhou Xiaochuan. [Featured: The #1 Stock Set to Benefit from High Gas Prices.]( In September 2016, Christine Lagarde, who was head of the IMF at the time, announced that the yuan was to be added to its SDR. (If you missed it, you can find that excerpt [here]( Again, I’m not saying the Chinese yuan will replace the U.S. dollar, at least not in my lifetime. But I believe it’s important to understand the nuances involved. As well as the people and the politics. Recommended Link [Former Goldman Sachs PhD: "Never returning to normal"]( [image]( PhD Economist: “Don’t Bet on It” According to former Goldman Sachs executive, Nomi Prins… Americans who are hoping for a ‘return to normal’ are going to be shocked when they see what happens next in America. She says, “If you’re betting your job, savings, or retirement accounts on a return to ‘normal’ you’re about to be left behind by a brand-new crisis few see coming.” [Click here now to see America’s next crisis.]( -- So today, I’m sharing another excerpt of Collusion with you. It details how China used its growing economic strength to push its agenda and form strategic alliances with those in positions of power around the world. To read the excerpt, [follow this link](. Regards, [signature] Nomi Prins Editor, Inside Wall Street with Nomi Prins --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=RE: How China Has Been Pushing Its Economic Agenda). --------------------------------------------------------------- MAILBAG A reader has another essay suggestion for Nomi and her team, following Nomi’s series on China’s bid for the world reserve currency spot (catch up [here]( and [here]( Hi Nomi. I’m a late blooming fan of yours and read your reports virtually daily. With respect to your reports on the Chinese challenge to the dollar, one of my biggest concerns occurred when Trump was president, during a fall season when Congress was vigorously debating the upcoming budget. Several Republican Senators voiced thoughts about letting the U.S. dollar obligations default. They were used largely as a scare technique to try to move Democrats on selected issues… but the mere mention of the same caused big ripples in the British/EU markets and got a lot of international leaders’ attention and comments – particularly in the international press. My concern was (and still is) that neither Trump nor the Republican leadership fully realized the seriousness of their threats. And, if seriously angered, the same folks could well default the dollar just to prove their power. I realize this is thin ice to skate on, but I’m wondering if you might have some thoughtful comments to contribute, even if you had to clothe them in extremely careful language. – Pete N. Have you read any of Nomi’s books? XX? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=RE: How China Has Been Pushing Its Economic Agenda). 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