Could China’s Digital Currency Unseat the Dollar?

[Han Patriot]

https://www.foreignaffairs.com/arti...uld-chinas-digital-currency-unseat-dollar?amp

For example, Iran could use Chinese technology to issue a digital rial that is fully interoperable with the Chinese system. For those countries in Africa, the Gulf, and Southeast Asia that are already in China’s economic orbit, Beijing could push the use of the digital yuan itself. Just as it is funding physical infrastructure projects today through its Belt and Road Initiative, China could invest in point-of-sale terminals, ATMs, mobile apps, and other financial infrastructure that creates a complementary “digital Belt and Road.” Individuals sending or receiving remittances and businesses with large import or export ties to China, for example, could transact in the digital yuan using Alipay. And by stipulating that importers receive payment in the digital yuan, or requiring contractors for the real-world BRI to repay loans using it, China could both increase demand for its national currency and bring more users into a network that it can closely monitor

China knew BRI countries would never repay their loans all along. This is the missing piece in the puzzle.

 

[BHAN85]

What's the sense on be rich if you only can buy cheap cr*ppy-articles like China sells?

What's the sense on have million dollars if you only can buy rice and cheap-j*nk?
That was the problem in the Soviet ruling elite, they had so much power, but they had no luxuries.

Well, the west sells luxuries and the luxuries are sold in dollars.

 

[Han Patriot]

What's the sense on be rich if you only can buy cheap cr*ppy-articles like China sells?

What's the sense on have million dollars if you only can buy rice and cheap-j*nk?
That was the problem in the Soviet ruling elite, they had so much power, but they had no luxuries.

Well, the west sells luxuries and the luxuries are sold in dollars.

Go check your living room and tell me how many of those 'cheap crappy' Chinese goods you own. Keep denying and dismissing, let's see what happens. Lol

 

[Capt. Karnage]

Not really. Many countries are angry with China after the spread of China virus and have already started to reduce trade with them. China will be isolated and soon become next North Korea.

 

[+4vsgorillas-Apebane]

Go check your living room and tell me how many of those 'cheap crappy' Chinese goods you own. Keep denying and dismissing, let's see what happens. Lol

People who complain about cheap Chinese products are the ones who are too cheap to fork out proper cash for whatever they are buying.
China produces everything from lower end goods to top grade ones. The problem is that some people are only willing to pay a few dollars and expect the best. Fcuking tightasses demographic, dealing with them while working in retail is a nightmare.

 

[Han Patriot]

Not really. Many countries are angry with China after the spread of China virus and have already started to reduce trade with them. China will be isolated and soon become next North Korea.

Sure. Reduce it as much as you want, Tiny bits of components go into every single shit you buy. Isolate China huh? Check out the latest WHA and see who got isolated. Lol. Even France is testing digital euro to bypass dollars.

 

[Capt. Karnage]

Sure. Reduce it as much as you want, Tiny bits of components go into every single shit you buy. Isolate China huh? Check out the latest WHA and see who got isolated. Lol. Even France is testing digital euro to bypass dollars.

I said it will be done gradually and not at once. China's boycott will be due to the negative sentiments that the world has after the spread of Chinese virus. They won't trade in Chinese currency.

 

[CrazyZ]

USA has abandoned sound currency philosophies with all these repeated rounds of money printing. Alternatives to the dollar as a global reserve currency will be explored by many nations. China, with its large economy makes Yuan (digital or paper) the front runner for alternatives.

Since China maintains large trade surpluses with most nations, building a reserve of Yuans becomes difficult for other nations when compared to the dollar. China will either need to offer currency swaps to BRI nations or import more from BRI nations to enhance the Yuan as a reserve currency.

 

[Chhatrapati]

Someone should resurrect "ending dollar dominance" thread. It was fun read

 

[TNT]

What's the sense on be rich if you only can buy cheap cr*ppy-articles like China sells?

What's the sense on have million dollars if you only can buy rice and cheap-j*nk?
That was the problem in the Soviet ruling elite, they had so much power, but they had no luxuries.

Well, the west sells luxuries and the luxuries are sold in dollars.

What are u saying? Did u just wake up from the 90s? This is china of 2020, they make every quality range objects. Try buying high quality chinese products and ull know.

 

[Indos]

China only one country, not possible. Euro is already challenging Dollar. The other one that has opportunity to challenge Dollar is single Muslim currency, if Muslim countries decide to make single currency like Euro.

 

[Han Patriot]

I said it will be done gradually and not at once. China's boycott will be due to the negative sentiments that the world has after the spread of Chinese virus. They won't trade in Chinese currency.

The world does not work like what you and I like it to work mate. WHA was supposed to be China's death bed, the inquisition for China, Europeans and US and Japan shall unite to do a trial by fire. What happened? This shows most countries including Europe wants to continue trading. When I said components go into your stuff, I mean components tiny bits that you can't see. Imagine this Chinese components are found even inside US military electronics

Someone should resurrect "ending dollar dominance" thread. It was fun read

I think rupee will be the most important currency in 1000 years time. We should cr8 a new thread

 

[FairAndUnbiased]

China only one country, not possible. Euro is already challenging Dollar. The other one that has opportunity to challenge Dollar is single Muslim currency, if Muslim countries decide to make single currency like Euro.

number of people or countries doesn't matter, size and complexity of the economy matters. Your economies are some of the most primitive on earth, same level as Africa.

https://atlas.cid.harvard.edu/rankings

USA United States of America 1.47
ISR Israel 1.37
CHN China 1.30
POL Poland 1.19
DNK Denmark 1.18

SAU Saudi Arabia 0.12
VNM Vietnam 0.09
SWZ Eswatini 0.09
IDN Indonesia -0.04
BWA Botswana -0.17

 

[fisher1]

Looks like in coming days, China will be unseated lol

Saw Jinping whine about the course of action US was taking.

Time to send these Chinese to the great Mao era

 

[StormBreaker]

China only one country, not possible. Euro is already challenging Dollar. The other one that has opportunity to challenge Dollar is single Muslim currency, if Muslim countries decide to make single currency like Euro.

Not much potential in that as well...
The base of your idea is the wealth of Middle East through oil...

Oil is seeing its worst days and will unfortunately see even worse...