Reply to post: And so begins the middle game

China sets out world domination plan for its digital currency

analyzer

And so begins the middle game

Chinas BRI is very extensive, giving them a huge market to play with this. It may well become the only digital currency that is sovereign backed and there are large parts of the world, including the oil producers, who may well have no problem using it.

As Chinas economy continues to grow faster than the US this is the biggest threat to the dominance of the US dollar since it took over from Sterling. This presents the US with a major issue of debt repayment, a big chunk of which will need to be paid back when the transition occurs. The UK got away with it because that transition was relatively smooth, well it cost the empire over the next 30 or so years but hey. If the US fights tooth and nail because 'exceptionalism' then it will be very painful collapse of its empire.

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