David Frum

@davidfrum ↗

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Last Checked March 2, 2022

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Sun Feb 27 17:33:17 +0000 2022

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David Frum @davidfrum

Russia's foreign holdings of $630 billion are dwarfed by China's holdings: $3.25 TRILLION. China is struck with those holdings, because any use of them would lower the value of the dollar/Euro, raise the value of Chinese currency - and cut into China's exporting. 10/x — PolitiTweet.org

Posted Feb. 27, 2022

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David Frum @davidfrum

China faces a special problem. Its development strategy was the biggest export drive in the history of the world. It sold and sold - but bought little in return. Instead, it accumulated vast quantities of IOUs from the West. 9/x — PolitiTweet.org

Posted Feb. 27, 2022

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David Frum @davidfrum

For China to central bank without huge reserves of dollars/Euros/pounds implies finding some way for China to operate its economy without massive exporting. But to do THAT would involve freeing their domestic economy from control by the Communist Party. 11/x — PolitiTweet.org

Posted Feb. 27, 2022