This is Why China Wants a Digital Yuan

This is Why China Wants a Digital Yuan
In his 2011 book On Russia, former US secretary of state Henry Kissinger used the ancient Chinese game of Weiqi, or Go, as it is also commonly known, as an extended metaphor to conceptualize and explain the decisions of the Chinese regime in both foreign and domestic policy. A game of strategic domination akin to chess, Go is won by building and maintaining key positions around the board, rather than by any strategy of outright attrition. Understood as one of the stones placed upon the board, the digital yuan joins the Belt and Road Initiative (BRI), the Regional Comprehensive Economic Partnership (RCEP), and militarization of the South China Sea as part of a strategy for squeezing US positions both internationally and domestically.

In the struggle to dominate the multidimensional board of geostrategy, space, cyberspace, air, land, and sea, the digital yuan poses a new and unique challenge to the US regime. Though there has long been speculation, even serious discussion, of the dollar being replaced or eventually displaced as the world reserve currency, it has remained the overwhelming currency of choice, due in part to institutional inertia but also because of the continued relative economic predominance maintained by the US. As Tim Morrison pointed out in Foreign Policy a little over a year ago, this “exorbitant privilege” entails many advantages for Washington. Chief among them is the US's ability to cheaply and immediately finance its own deficit spending, as well as disproportionate power in imposing economic sanctions.

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[kt_jpg]

Great research, keep us updated on the digital yuan progress!

[lucanidae]

Sounds like the US needs lots more gold.

[leeseyr]

People have the choice now what route the world takes...
Ask the question to yourself ...
Do you want a
Centralised or Decentralised system ...

The choice will NOT effect law and order, countries defence, fire services etc etc ...
Another way to look would be the following :
Fiat currency = devaluation, manipulation, corruption, poverty, misery, starvation, inequality of epic size
= Centralised system
Obviously the opposite for decentralisation...
Or another way
Do you like the idea that a small amount of people can control vast populations ?

[pinakibhattacharya]

It will be 100% digital currency or currencies a few years from now.

[timothyswindell]

It’s already in the works and being perfected. It’s called FedCoin and there is plenty of information out there about it.

[hoponasu]

well for one report is not taking into count what matters the most to the CCP - its control and therefore will never tie its currency into gold and make it available to the outside world
and as for USD yes it will come down but still IMF srv retains place for private crypto currency - which one remains to be seen but allocation exist already and ECB will relese digi euro in next three years and Fed will do the same.