Is The Digital Yuan Really A Threat?

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(Edited)

▶️ Watch on 3Speak


Manu have pointed to the Chinese embracing the digitization of the Yuan, a CBDC. This sent shockwaves throughout the West who are leery this could end up taking over as the reserve status.

In this video I discuss how this is unlikely. The world of international finance boils down to confidence and the Chinese have a trust problem. This is especially true with its currency which they openly manipulated over the last few decades.


▶️ 3Speak



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Bang, I did it again... I just rehived your post!
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Personally I don't believe that China is going to have much of a future after they have completely crashed their economy and are barely surviving.

Pretty wild events in this world. There might not be a Communist party after all the poor people starve in China.

This is definitely going to set back plans for war....

And then on top of it we've also got a lot of worldwide criticism. I can definitely see the digital world attacking these assets.

But then again more countries are coming out about the genocide that's happening in China with the ethnic minorities in detention camps as well as the forced organ harvesting.

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But then again more countries are coming out about the genocide that's happening in China with the ethnic minorities in detention camps as well as the forced organ harvesting.

Western countries are rapidly moving in this direction, perhaps without the organ harvesting.

China has an overwhelming problem that is also mirrored in the EU. Demographics are against them. That make long term sustainability near impossible even in the best of circumstances. What few realize is that China is a rather poor country overall. Sure it has the second largest economy yet the per capita GDP is like 70th. Most are living a very meager existence.

I am not optimistic about China at all. They have too many headwinds which will crush them over the next 20 years in my opinion. The China growth story is cover.

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China is controlled by the people's liberation army so every business is taxed the markets are manipulated the only way China is able to get ahead is by theft of intellectual property.

Or how about the predatory loans and lending practices?

How about Chinese espionage penetrations and as well how much they have screwed up sneaking around trying to play spy games.

How about the Chinese illegals doing cartel grows in Northern California?

How about that fentanyl wave that is killing massive amounts of people in the United States and funding the Mexican narco terrorism more?

How about all the black market violence in Portland the triple murder rate Spike? All over drugs made from Chinese precursor chemicals?

Oh yeah how is it that this massive wave of drugs is completely fueled by Mexican cartels purchasing all of the precursor chemicals from China........

Then we still got that forced organ harvesting and all that.

How about operation skynet where over 10,000 fugitives were returned to China? How many people were kidnapped and how many American citizens were forcibly removed from America?

How about that pesky Wuhan institute for infectious diseases? Built and funded by Anthony fauci?

Well hang on a second I think the world is starting to wise up.

Personally I wonder how bad off the Winter Olympics are going to be.

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@taskmaster4450 off topic, but what is the best way to convert HBD into hive? Blocktrades is WAY too expensive, got any alternatives?

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The internal market allows for free transactions when swapping Hive to HBD or in the reverse.

Simply go to your hive.blog wallet and you can access the exchange.

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@taskmaster4450le yeah you are right thanks man. I was looking at exactly that WAY too late last night and I guess my brain couldn’t see the bids and asks properly. 🍻

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With how the Chinese government is forcing companies to delist their stock, I don't really see how people are going to be confident in the yuan. After all, it doesn't bode well when the companies are forbidden to have foreign investments. So I think the digital yuan will be very successful within China because that is what they will be using daily but I doubt other governments would want to use their their currency either.

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The recent actions of the CCP certainly do not enhance what was already looking like a difficult situation.

Thus I agree, there is little reason to be highly optimistic about the prospects of what they are developing.

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I don't think any digital currency based on another Fiat currency is going to take over the world except those based on USB because that's a currency already used worldwide.

A digital € would not be used outside of Europe. Especially not for daily payments

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