Although China is moving to change that calculus, it will take a lot of effort, changes in their foreign currency policy, changes to how imports and exports are handled, changes in banking requirements, increased transparency to attract more FDI, and a determined effort to lighten up on U.S. Treasuries.
Perhaps we will see significant progress as this decade comes to a close…but perhaps not, as China’s economy appears to have shifted into reverse lately…~r
