I agree with sentiment and it's true, but this particular sharp upward movement is apparently not due to direct expansion of the money supply but rather a change in China's definition of M1 money.
Discussion
What does it mean for the purchasing power of a unit ?
Nothing
You care to elaborate?
Nothing actually changed IRL. They simply changed what M1 money is to include more data.
Repetition is not elaboration… are you aware of what did they include? What is their official reason? Additional reading?
At first your question was about the impact of this chart on the value of each dollars.
They added M0 money in the M1 category to do like other major economies.
what would the purpose of redefining M1 to the upside be though? so any future increase is proportionally less? 🤔
No idea. Maybe just regular state employee changing things to feel important or it's more nefarious and the goal is to better hide future expansion of the money supply.
That makes sense
thanks for the info