A couple of Chinese friends recently told me about the change in their own families’ stance on the dollar.
When they used to go back home, their friends and family members would have them bring dollars so they could exchange their yuan. Now, they don’t want anything to do with the dollar.
Also, I had to transfer money to Europe for an estate settlement in 2007. The dollar was at a low point at the time, and I asked if they wanted to see if the dollar would appreciate a bit first. They laughed and said they didn’t think the dollar was going anywhere but down (it did appreciate in the meantime, BTW).
Still, if the “Average Joes” in other countries are shunning the dollar, one can only wonder what the higher-ups are thinking.
