Could China’s Digital Currency Unseat the Dollar?

[Blacklight]

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...

What is today's price for Brent Blend?

 

[Han Patriot]

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

Many many times I advised ppl in PDF, your strategy is to compete not hope for your rival to fail. Dollar will not go bust, but the dominance will reduce, digital Rmb might get 20% US might get 50% and Euro might get 30%.

What is today's price for Brent Blend?

30$ ish. SHALE Oil is fcked. Petrodollar power reduced. Last year the biggest oil trading hub after London and New York is Dalian.

 

[Chhatrapati]

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

Deflecting is from classic commie playbook when you can't face reality.

 

[Han Patriot]

Deflecting is from classic commie playbook when you can't face reality.

Its not deflecting, it's making you realise how advanced rupee is... If you have no water after you crap, use some rupees. Lol

 

[Chhatrapati]

Its not deflecting, it's making you realise how advanced rupee is... If you have no water after you crap, use some rupees. Lol

It's a deflection when the issue here is not Rupee. But Dollar, and the day in day out bragging about some imaginary currency that's gonna topple dollar. Been hearing it since I was here, the dollar still remains on the top, Euro comes second, Yen comes third, GBP, AUD, CAD and then comes friggin Swiss Frank and then comes RMB. Seriously, what are you lot going on and on about in here?

 

[Yaseen1]

it can replace dollar if china offers concessions and preferable treatment to those using it like investment in those countries and improvement of standard of life in these regions and removing any cost or fees related to transactions as well as making transaction quick and much easier

 

[Han Patriot]

It's a deflection when the issue here is not Rupee. But Dollar, and the day in day out bragging about some imaginary currency that's gonna topple dollar. Been hearing it since I was here, the dollar still remains on the top, Euro comes second, Yen comes third, GBP, AUD, CAD and then comes friggin Swiss Frank and then comes RMB. Seriously, what are you lot going on and on about in here?

And yet we have an Indian here ranting about an 'imaginary' currency huh? The article is not written by me nor any Chinese here, its by an American. We are here to discuss and debate this proposition on what might happen. My analysis is Dollar dominance will be reduced but not diminished. So there you go, if you are not interest then you can ignore this thread, why are you so triggered? It has nothing to do with rupee what so ever.

 

[Naram_Sin]

The goal is to disarm the dollar not to replace it, to deny the US the ability to weaponize it, diminishing its strategic value.

 

[Han Patriot]

The goal is to disarm the dollar not to replace it, to deny the US the ability to weaponize it, diminishing its strategic value.

YES, US has been using unilateral powers frequently, this is pissing off the Europeans too. Right after China started DIGITAL Rmb France started testing digital euro.

Banque de France announces successful ‘digital euro’ test
https://coingeek.com/banque-de-france-announces-successful-digital-euro-test/

We can tell from the WHA gathering that EU does not want to contain China and wants to use China as a balancing power against US dominance. France is in conflict with US over taxing Google and gang. Germany is pissed with auto tax etc. Trump is uniting EU against a common enemy. If China can agree with EU on an exchange mechanism, we can bypass dollars altogether, they are already using one to sell stuff to Iran.

We must understand Germany is pissed because they are still occupied by US, France is pissed due to lost prestige eventhough part of P5, over the years not a single US base is allows in France. China should be worried about the Anglo 5. Those are permanent lapdog of the US. UK leaving EU might be a blessing in disguuise

 

[Indos]

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

Look, number of countries are vital, good luck if you think other countries want to trade using Yuan.

And the calculation of that economic complexity that you brought is only revealed about the complexity of each country export, not the over all economy. Indonesia export many raw materials like oil, palm oil, coal, and others but our manufacturing products are large and mostly absorbed by our domestic market. Indonesia economy is consumption driven economy instead of export driven. Our trade with other country is still relatively small.

Look like you bring Vietnam number here, but based on world bank manufacturing value added data, Indonesia manufacturing value added is number 11 in the world while Vietnam is number 43

Here I give some data.

Manufacturing, value added (current US$)
World Bank national accounts data, and OECD National Accounts data files.
License : CC BY-4.0

https://data.worldbank.org/indicator/NV.IND.MANF.CD?most_recent_value_desc=true

If you say our economy is one of the most primitive on earth, I also can say that your political system is still regarded as primitive compare to our democracy.

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The Economic Complexity Index (ECI) and the Product Complexity Index (PCI) are, respectively, measures of the relative knowledge intensity of an economy or a product. ECI measures the knowledge intensity of an economy by considering the knowledge intensity of the products it exports. PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters

https://oec.world/en/rankings/country/eci/

 

[Naram_Sin]

If you say our economy is one of the most primitive on earth, I also can say that your political system is still regarded as primitive compare to our democracy

There is nothing progressive about democracy, at best it gives poor governance and at worse it destroys nations.

Chinas meritocracy is its prime strength, it would not have reached half what it is now, had it been a democracy.

 

[Cliftonite]

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.

Lol watching too much WION and Hindustan Times can give people such delusions. China is INDISPOSABLE by now. Get this in your head.

 

[Capt. Karnage]

Lol watching too much WION and Hindustan Times can give people such delusions. China is INDISPOSABLE by now. Get this in your head.

For you.

 

[Cliftonite]

For you.

Okay. Call me when China has stopped humiliating you in Ladakh.

 

[Capt. Karnage]

Okay. Call me when China has stopped humiliating you in Ladakh.

You need to wake up smell coffee. You don't like us that's alright but you don't have to be delusional.