Reply to post:

China sets out world domination plan for its digital currency

CrackedNoggin

" ... gives China the chance to reach its goal of challenging the US near-monopoly, because China has a first-mover advantage ..."

In theory. In reality China has aimed for being the worlds export manufacturer of every basic item - for which a cheaper reminbi is essential. So China keeps buying US Treasury bonds as a sink for their mountain of US dollars, to keep the supply of dollars down, and so raise the dollars value relative to the reminbi.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

Biting the hand that feeds IT © 1998–2021