Strict new IRA tax credit rules aim to boost domestic industry but could slow transition from petrol

US moves to choke China’s role in electric vehicle supply chain::Strict new IRA tax credit rules aim to boost domestic industry but could slow transition from petrol

  • queermunist she/her@lemmy.mlEnglish
    18·
    11 months ago

    China doesn’t even let you take Yuan out of the country in most cases, even if someone wanted to take it in payment.

    Just two weeks ago China and Saudi Arabia signed a ¥50 billion currency swap agreement lol

    • jmp242@sopuli.xyzEnglish
      21·
      11 months ago

      I mean, as a normal person, I can’t earn Yuan in China and then convert to USD when I leave(at least this was the case for a long time), but the reverse isn’t true. If you can’t convert into and back out of a currency, I question how much it has to do with the global economy. A government currency swap is like swapping commodities, it isn’t doing anything for other countries.

      • queermunist she/her@lemmy.mlEnglish
        16·
        11 months ago

        I must be out of my depth! Yuan is traded for dollars every day and there’s a current scheme where it’s traded/invested in the CFETS basket of 24 national currencies they do business with, so I can’t make heads-or-tails of what you’re talking about.