US dollars, devalued as they are, are still the reserve currency of the world and most importantly, oil is still denominated in USD.
So basically they can print up as many yuan as they can sell, and exchange paper with pretty pictures on it, for oil and other commodities they can actually use.
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All you are buying is a paper promise of yuan.
US dollars, devalued as they are, are still the reserve currency of the world and most importantly, oil is still denominated in USD.
So basically they can print up as many yuan as they can sell, and exchange paper with pretty pictures on it, for oil and other commodities they can actually use.