Global domination?
I don't see why so many mentions in the article about Chinese global cryptocoin domination. They don't even allow the Yuan to be freely traded globally, it's pretty unlikely that it's going to be much use to anyone outside China, unless they want to use it in China. At which point if you're using your money in China you'll have to use what the Chinese tell you to anyway.
One of the reasons that so much capital has fled China in the last 10-20 years is that Chinese people don't trust the Chinese government - and Chinese exchange controls have entirely failed to stop that so far - with Chinese companies buying foreign assets to retain profits outside China or doing various invoicing tricks to book smaller profits on their export transactions - and then leave that cash in foreign accounts no longer traceable to the Chinese government.
Obviously the government would like to stop this. But of course the big problem with Xi Xinping's anti-corruption policies is that they're not really about corruption. They're about purging the people from the Party leadership that he doesn't like, or don't support him. But not about stopping corruption. So loopholes will have to be left for those whose support he needs, and those loopholes will always be usable by anyone else.
Biting the hand that feeds IT
