Loading ...Makes sense. China is an interesting country. Some serious strengths, but also some serious weaknesses. As you say they are accumulating gold on a massive scale, but it almost appears to be a hedge for them to weaken their currency. They don’t have any apparent interest in backing the Yuan with anything tangible, but probably could if necessary.
Japan is strange. For some reason they are not getting the Zimbabwe treatment as their currency falls. Surely import prices are killing them, but it seems they somehow avoid inflation and have a wealthy populace. I’d think that energy prices would crush them, they import 85% of their oil. I don’t understand how they manage to do that. I imagine every country would be happy with a weak currency if they didn’t have inflation. 🙂