The renminbi is backed by the cpc and nothing else so it fits the definition of fiat. Considering the yuan is the unit of account for the renminbi it is fiat as well
Yeah its like how in the us if you dont support the status quo they just make your money worthless or something idk /s china should get rid of money already smh
The renminbi is backed by the cpc and nothing else so it fits the definition of fiat. Considering the yuan is the unit of account for the renminbi it is fiat as well
Quite clever really. “Support the communists or your money will evaporate.”
Yeah its like how in the us if you dont support the status quo they just make your money worthless or something idk /s china should get rid of money already smh