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Author Topic: China's digital yuan vs US dollar  (Read 11608 times)

Offline wxxyrqa

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Re: China's digital yuan vs US dollar
« Reply #15 on: November 21, 2020, 03:15:28 PM »
If China really makes digital yuan they will accelerate their hostility and competition with the United States of course this will be a strong trade competition between China for that China is always closely related to Asian countries to strengthen their trade the USA will experience an economic decline and trade will also affect the entire USA economy.
One way or another, today the United States and China are already waging an economic war in the truest sense of the word. What China is trying to do is not yet the most important thing, because the United States already has leadership in this regard and today its economy is coping. It’s another matter if China starts to take action to take over the markets and the yuan will not have to satisfy all the demands, which is not so easy.

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Re: China's digital yuan vs US dollar
« Reply #15 on: November 21, 2020, 03:15:28 PM »

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Offline Riya143

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Re: China's digital yuan vs US dollar
« Reply #16 on: November 21, 2020, 03:24:30 PM »
China digital yuan, US dollar is the most popular US dollar. However, in the current era of competition, it is doubtful whether the Chinese digital yuan will be able to replace the US dollar now or in the future. Since the US dollar is prevalent all over the world. In most countries, banks accept US dollars. It remains to be seen whether they will compete with each other in the future.
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Re: China's digital yuan vs US dollar
« Reply #17 on: November 21, 2020, 03:41:54 PM »
Quote
Last week, China also conducted one of its biggest trials of Digital Yuan. The Shenzhen government announced a lottery of 10 million Yuan in the form of Digital Yuan. Nearly, two million people had applied for the same of which 50,000 won some prize.

The winners will receive the Digital Yuan over the Digital Renminbi app which will be then accepted by 3000 merchants in some district of Shenzhen. Local supermarkets, pharmacies, and even big retailers like Walmart have participated in the process.
This one is realistic and no doubt by doing this with some support of the same brilliant idea will succeed.
But the idea that through China will be free from dollar is something that can't happen by now. This is just something that could be helpful to build China nothing more than this.

Offline Condorlaib

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Re: China's digital yuan vs US dollar
« Reply #18 on: November 22, 2020, 05:47:08 PM »
Perhaps China has every chance of becoming the market leader instead of the United States. But another question is whether we are ready for such circumstances when the world will be led, in economic terms, by a country that has a significant share of totalitarianism in its arrangement.

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Re: China's digital yuan vs US dollar
« Reply #19 on: November 22, 2020, 06:19:45 PM »
China has also taken steps to launch digital yuan. However, the US dollar is much more popular than ever before. It has gained more and more popularity all over the world. Because it is possible to transact in traditional banks all over the world. So it is known all over the world. It remains to be seen how people around the world will react to the arrival of Chinaitaldigital yuan.

Offline Ghozrd

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Re: China's digital yuan vs US dollar
« Reply #20 on: November 22, 2020, 06:28:16 PM »
Good progress in cryptocurrency in china, if the digital Yuan really exists, it is almost the same as the Libra coin created by Facebook, what I worry about is whether the digital currency can be used and recognized by Chinese banks and bank branches. in another country? because this is almost the same as the stable currency USDT which in my opinion is very good at saving money when someone wants to exchange / send money to a Chinese bank with digital Yuan one does not have to bother going to the bank anymore.
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Re: China's digital yuan vs US dollar
« Reply #21 on: November 22, 2020, 11:07:20 PM »
China digital Yuan is now very booming and it is being a big CDBC in the crypto world. And this is what probably the US afraid of the future of that CDBC. But, what is the matter actually? As long as one of them can make the crypto world more developing, I do not mind about them

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Re: China's digital yuan vs US dollar
« Reply #21 on: November 22, 2020, 11:07:20 PM »


Offline gotbounty

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Re: China's digital yuan vs US dollar
« Reply #22 on: November 23, 2020, 06:07:26 AM »
With the Digital Yuan project from China, of course it will greatly affect the world economy, including US dollars. However if the Digital Yuan is successful, it is possible that there will be many other traditional banks that also make their own crypto.
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Re: China's digital yuan vs US dollar
« Reply #23 on: November 23, 2020, 06:38:30 AM »
With the Digital Yuan project from China, of course it will greatly affect the world economy, including US dollars. However if the Digital Yuan is successful, it is possible that there will be many other traditional banks that also make their own crypto.
Most other states will certainly create their own national digitalized currencies of central banks in the near future.  Only China, as one of the largest countries with a population of 1.4 billion people, is almost ready to introduce its digitized currency, and the United States is just considering this possibility.  The market for goods in China is now very large and the digitized yuan can dominate the international market for a long time.  In this regard, the United States is already starting to lose the trade war with China.

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Offline Crypto Guard

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Re: China's digital yuan vs US dollar
« Reply #24 on: November 23, 2020, 06:51:25 AM »
In my opinion, China's move with Digital Yuan is quite interesting. And indeed this of course will be imitated by many other banks around the world. And of course US Dollars may experience changes because of this digital yuan.
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Re: China's digital yuan vs US dollar
« Reply #25 on: November 23, 2020, 07:51:25 AM »
The US dollar is known and traded worldwide. In other words, the government has an agreement with the governments of different countries that the currency will be traded inside each country. A currency that is in circulation all over the world. However, it remains to be seen how popular China digital yuan will be or how many countries it will be able to deal with. May be rivals of each other.

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Re: China's digital yuan vs US dollar
« Reply #26 on: November 23, 2020, 04:14:42 PM »
Co-founder and managing partner at Electric Capital, Avichal Garg, is convinced the only way for the U.S. to catch up with China in the digital currency war is by embracing privacy-focused cryptocurrency.
According to Garg, the Chinese are already far ahead of the U.S. in the digital currency race – their DCEP, or Digital Currency Electronic Payment, is due to launch by the end of the year. That is why developing a US digital dollar might not be enough to compete, given the long time it will take to develop it.
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Re: China's digital yuan vs US dollar
« Reply #27 on: November 26, 2020, 11:55:14 PM »
It is like a kind of war right now. The economy war is here, The US and also China are big countries where they have also big power. However, the existence of China CDBC really infleunces the crypto world. this is also the big one. It is cosnidered that this digital Yuan can really give big infleunce tot he other countries to do te same.
« Last Edit: November 27, 2020, 12:00:49 AM by Quart »

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Re: China's digital yuan vs US dollar
« Reply #28 on: November 26, 2020, 11:57:40 PM »
For now, I think the power is for USD. But Digital Yuan will develop more and more. I think it has a chance to overtake USD in the future. We don't know if US may create their digital currency because of this. If the US government also creates digital currency, then all countries in the world may follow.
« Last Edit: November 27, 2020, 12:07:58 AM by Alter »
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Re: China's digital yuan vs US dollar
« Reply #29 on: November 27, 2020, 12:39:55 AM »
Economically, China will be strong because they have sufficient resources to do this.
USD will remain the choice of many people in paying for all manufactures produced by the United States, these two countries have each advantage in processing the financial system, therefore China is currently the developer of the Yuan digital currency to simplify the transaction system in their country.

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