So many deflationary money indications, so much targeting flaky China. Xi's zero-COVID crackdowns have less to do with the pandemic than the fallout from macro and $ problems that go way back to early last year.
It's getting ugly; economy & politics.
https://t.co/llnDxg8yWy
Dollar strengthening vs other fiat reduces the global money supply, because the USD-value of that money supply shrinks even if it goes up nominally.
This is relevant because the majority of debts and payments (owed by and to the US and mostly elsewhere) are denominated in USD.