Like Germany hiding in the Euro, China have long played the game of keeping their currency soft, to juice their exports.
But now, with the accelerator still jammed to the floor on US inflation, it seems that the powers in Beijing might be looking to devalue the Rimimbi even further.
Everyone plays currency games - the trick is not to get caught. And the problem for China might be that they’re on the brink of embarrassing their adversaries.
Meanwhile, what happens when a miracle becomes a conjuring trick?
After forty years of weaving economic magic, the South Koreans now have the world’s lowest birth rate — and GDP slumping back towards developed economy norms. Are they about to become an early Eastern front runner of the social problems of the west? And can they afford that - given their tough geopolitical neighbourhood?
Exorbitant privilege is what they call the US ability to print the global reserve currency.
So what if the privilege was revoked?
Plenty of apocalyptic fiction has been written about that moment. But this week we’ve done the modelling to put a number on the dent in US living standards.
***
Be excellent to each other, and -
Get us on Twitter: https://www.twitter.com/multipolarpod
On Patreon: https://www.patreon.com/multipolarity
Or on our Substack: https://substack.com/@multipolaritypod
Special Edition: Two Crystal Balls And The Death Of The Washington World Order
Xi Came In Through The Belgrade Window, Egypt's Pyramid Scheme, Per Capita No Cap
Special Edition - Q&A
Bananageddon, We’re Gonna Need A Bigger Boat, Enter The Draghi
Special Episode: Big Trouble With Little Rocket Man
Premium Episode: The Atlanticists vs The Autonomists
Sino More, A Bridge Too Far, America's Trussification
Special Edition: The Economic Consequences Of The War
Machine Learning Difficulties, Don't Hate-O The NATO, Britain's Shrivelling Equities
Premium Edition: The YIMBY Defence League, Nuland Goes, Galloway Comes
Special Edition: The Burger Theory Of History (feat. Malcom Kyeyune)
Israeli Economy Contracts 20 Percent, Nagorno-Karabakh To The Future, Bailey Out-y
Deutschland Unter Alles, Chinese Crackers, War Like An Egyptian
Premium Edition: How To Invade Iran with Malcom Kyeyune
From America With Love, Your Country Needs THEM, Self-Immolate After Reading
Poseidon With The Enemy, WWIII Pt. 2, Weimargentina
The Price Isn't Right, Lloyd Austin's Day Off, The Magnificent 17
Premium Episode 5: The GAE Strikes Back
Canal Plus, Lebanon and On, WFH WTF
Create your
podcast in
minutes
It is Free