Trump Team have been planning this for a long time. My bet will be that it will be fairly seamless for the masses.
China switched to a gold backed currency in 2018 and there were dire predictions of all kinds of crashes. Nothing happened. It was a nonevent.
Let's hope for a non-event.
China's gov which runs a centralized command-control Economy and Social monitoring can do whatever they want with no real resistance (published that is). I wonder what will happen in the US.
China does not allow its currency to float by market price discovery. I thought they still drive Yuan pricing down to keep it cheap against US dollar value, hence China has cheap exports. They have been accused of currency manipulation in the past. And now that the market is taken a sudden downward move for affordability (inflation in this context = day-to-day buyers cost of living increases, food, fuel), we have reached the "beggar thy neighbor" phase.
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