A Ruthless Person: The Shanghai Offshore RMB Exchange is not an exchange at all: it is a stitched-together monster with a market-oriented skin and an exchange rate control interior. Using a set of data to expose it, 30% of RMB trade settlement, but less than 2% of global reserves, why it is just a ruble with market-oriented packaging, preventing flow speed but not direction
https://www.youtube.com/watch?v=9LDQE5HCB2I