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Miles
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What will the effects be on the American economy, when the Renminbi becomes the reserve currency.?
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- d/dx+d/dy+d/dzLv 66 years agoFavorite Answer
In the long term, there will be a role reversal. Loss of reserve currency status will reduce the influence of Wall St, but there will be re-industrialization on Main St. Chinese bankers will become as corrupt as their Wall St. counterparts and will hollow out the Chinese economy over time. I am postulating that similar conditions and incentives will produce similar results.
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