China is pumping money out of the US with Bitcoin

China is pumping money out of the US with Bitcoin

The ongoing United States-China trade war is in its fourth year. Former U.S. President Donald Trump saw different results from what he initially expected: America has taken a hit from higher tariffs and sanctions against Chinese companies and hasn’t benefited from it nearly to the same extent. It has cost the country up to 245,000 jobs. The U.S. Chamber of Commerce calculated that the situation puts the exports of each state at risk. For example, the damage to Florida’s exports alone has already reached $1.9 billion.

At the same time, China was taking a smarter approach: It not only imposed reciprocal sanctions and exported its products through intermediary countries (Vietnam, Taiwan and Mexico), but also made the U.S. pay for unsecured and poorly regulated assets — cryptocurrency.

Related: US-China trade war and its effect on cryptocurrencies

Trending: Did The First Major Election Whistleblower Just Come Forward?

Hidden billions

The United States annually inject billions of dollars into the Chinese economy without even suspecting it. The reason is that the majority of Bitcoin (BTC),

Continue reading

You Might Like

Daily Truth Report •
Thanks for sharing!
Send this to a friend