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To: BeauBo

[They kind of have to. They get paid in dollars for their exports to the USA, and have to pay in dollars for their huge imports of oil, gas, raw materials and food.]


They can pay in any currency they want to use. They use dollars because they already have them from export receipts, and every currency conversion involves a loss in value because of the bid-ask spread.


9 posted on 08/21/2019 5:45:39 AM PDT by Zhang Fei (My dad had a Delta 88. That was a car. It was like driving your living room.)
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To: Zhang Fei

“They can pay in any currency they want to use.” (for their imports)

In theory yes, but in practice, most of their actual contracts require dollars. Just saying.


14 posted on 08/21/2019 6:12:06 AM PDT by BeauBo
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