**RT @michaelxpettis:**

7/9

For the world meaningfully to switch from dollars to RMB, exporters will have to want to hold their accumulated surpluses in RMB and, much more importantly, China will have to give up control of its monetary policy and abandon its surpluses for permanent deficits.

https://nitter.moomoo.me/michaelxpettis/status/1646571063483174912#m