well this would crash the dollar and markets???
https://www.washingtonexaminer.com/...ng-surveillance-state-at-expense-of-us-dollar
China's moves with the yuan are merely its latest after the Trump administration in August 2019 designated the country a currency manipulator as experts see a a threat to the American dollar, long the currency of choice for global business. "If the internationalization of the yuan steadily moves forward, the competitive landscape of the dollar and the yuan would drastically change,” Nomura Research Institute executive economist Takahide Kiuchi
told Kyodo News last month.
RUSSIA URGES CHINA TO DITCH US DOLLAR IN BID TO BUST SANCTIONS
Chinese monetary experts maintain that their ambitions are modest. “If you are willing to use it, the yuan can be used for trade and investment,” former People’s Bank of China Governor Zhou Xiaochuan said in December. “We don’t have an ambition to replace existing currencies.”
And yet, the developing countries that have joined China’s vaunted Belt and Road Initiative, an overseas infrastructure investment project that U.S. officials regard as a
“predatory” lending
scheme, appear already to be targets of China’s determination to turn a digital yuan into a tool of international finance.
“If it's a long-standing loan ... they’ll expect that that foreign actor will repay them in China's digital currency,” said the Atlantic Council's Julia Friedlander, a senior member of the Treasury Department’s sanctions office who did a stint at the White House National Security Council from 2017 to 2019 under Trump. “It's trying to create areas of dependency in the way that, say, Belt and Road has created sort of debt-trap diplomacy. It’s monetary diplomacy, in a different way.”
