Newsweek – China May Be Preparing To Deploy Economic 'Nuclear Option'

https://www.newsweek.com/china-may-preparing-deploy-economic-nuclear-option-1894985

“I don’t believe China is preparing to devalue its currency against the dollar,” Craig Shapiro, macro adviser to LaDucTrading, told Newsweek. “But I do believe that China continues to purchase commodity resources, which it can purchase in RMB (renminbi/yuan) from sanctioned producers like Russia and Iran.”

Shapiro said China’s commodities-buying spree is primarily because “China’s ability to buy commodities in RMB and settle excess trade balances in gold with countries like Russia, and those in OPEC, suggests that the gold buys more commodities in China than it does in the West.”