I just looked at the comments on this chapter and found that some readers have raised a few doubts. Here, I would like to explain:
The first one is about the Indian seamen exchanging Foreign Exchange Certificates for US Dollars, and whether the country has faced any losses due to this.
Before discussing this matter, it is first necessary to understand the foreign exchange management system of our country during different periods.
Back during the anti-Japanese war, China needed foreign exchange to import weapons and ammunition, including hiring Chen Nade's Flying Tigers.
At that time, there were very few exportable goods, mainly rare minerals, so remittances from Overseas Chinese (mainly in Southeast Asia), also known as remittance capital, became the main sources of foreign exchange.
After the establishment of New China, remittance capital still remained one of the important sources of foreign exchange.
