Jorge, when you refer to "the Chinese," do you mean their exchanges or fiat from Chinese traders, or both? I suspect any new fiat entering Chinese exchanges is from Coinbase. If that is the case, then the US is sustaining the price. Party ends when Coinbase runs out of options.
I mean the traders at the Chinese exchanges. I suppose that they are still mostly Chinese citizens.You say that one can deposit CNY into them through Coinbase? Directly, or indirectly (Coinbase deposits at Bitstamp and arbitragers bring coins from China to sell there)? The latter would generate volume at Bitstamp, which I don't see happening. Or do you mean the international branches of Huobi and OKCoin?
If Coinbase is using the Chinese exchanges, when whould they have started?
Yes, I meant the international branches.
Coinbase likely increased its usage of Chinese exchanges after Bitstamp stopped permitting withdrawals for businesses. Unclear exactly when that was. My guess is 2-3 months before Bitstamp severed its relationship with Unicredit Bank.