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In September 2021 the President Nayid Bukele introduced BITCOIN as Legal Tender in an attempt to solve El Salvador’s problems. Since that time the Crypto markets have CRASHED and the price of Bitcoin has fallen from around $50,000 to less than $20,000. This has left El Salvador on the brink of Collapse as El Salvador is a Net Importer and imports large quantities of Fuel & Food. The country has been running a negative Balance of Trade and has over £21 Billion in International Debt. China has now offered El Salvador a $21 Billion BAILOUT Deal raising international concerns about a DEBT TRAP. In this video I provide full details and discuss the potential implications of this deal for El Salvador, China and the Rest of the World.
For specific details please check out the CHAPTER list below.
Thanks for watching and please LIKE and SUBSCRIBE.
Chapters:
0:00 Intro
3:46 EL SALVADOR
6:44 EL SAVADOR ECONOMY
10:36 NAYID BUKELE
11:38 CURRENCY
13:35 BITCOIN
16:22 DEBT
18:19 CHINA
20:22 SUMMARY & CONCLUSION
#crypto
#elsalvador
#china
#Belt&Road
#globalrecession
#globalfinancialcrisis
#russia
#Evergrande
#China
#Recession
#Zhenro
#Bonds
