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How does China make billions of loans in dollars?
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ericthedreamer is
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China
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A new Vox video on China's Belt and Road Initiative claims that China has lent billions of dollars to countries likes Serbia, Pakistan, and Kazakhstan. According to Warren Mosler, state dollars only exist in one place--the Federal Reserve's computer spreadsheets. So how can China loan dollars? Or is China loaning yuan and reporters convert the value to dollars?
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- 6 years ago
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