China's digital yuan vs US dollar

[saprakib]

If the digital yuan is really released, there might be a big economic war between the US and China. Because China may no longer depend on USD. This will certainly have an impact on the world economic system.

As we have all know that the struggle is ongoing on base of economy. Thats how they are playing with the wprld. At first they make product to depend on them then they make the market and strong their econom. So yhe world will be depend on china and china will change the world.

[Dociko]

The US dollar is already popular. Banks around the world accept US dollars. So much more popular from all over the world. However, at present China digital yuan is to be introduced all over the world. That means one more step ahead in the world of cryptocurrency. However, it is not known how successful it will be in the future. However, some countries will use China digital yuan.

[Prime]

Most of the currencies in the world are currently very dependent on the Dollar (USD) currency. This is why, the power of the US dollar is very high and large. even very hard to resist. Now with the Chinese Digital Yuan, maybe this will change our thinking a little in the future. And provide fresh air for countries to create their own digital money.

[kent47400]

In this world, if there is only one who is in power, there will be a monopoly, whether in any case including the name in the world of finance.
The Chinese Yuan must be able to compete with the USD because if the USD continues to prosper then it is certain that the USD will manipulate the price or anything related to USD.

Yuan Digital from China must be able to develop quickly so that it can easily compete with the glory of USD.

[MrSpasybo]

As far as I know, USD is the global payment method, and it's the most popular in the world when some statistics show that 90% of transactions between countries use USD.
In contrast, Yuan is only the local currency of China. It is only accepted for export/import payments in certain countries very close to China.
Back to digital Yuan, it is the CBDC of China, it only solves the speed, transaction costs and transparency of the cash flow. And it only has a positive impact on the domestic economic situation of China. It will be a long time before it can be accepted as a global commodity or payment method.
Therefore, the USD, although not a CBDC, continues to dominate the global economy.

[ashraf786100]

there could be a major economic war between the United States and China. Because China can no longer rely on the US dollar. This will definitely affect the global economic system.

[flyaccount]

With the Digital Yuan proye from China. indeed there is a high probability that it will be followed by other banks around the world. And of course this is very influential on the world economic system, especially in US dollars as an international currency.

[lepbagong]

Perhaps the biggest influence is that China's economy is now growing rapidly, almost all sectors have been entered with competitive prices for goods, which of course the world likes.
although we do not close our eyes that quality goods are still held in part by the US and Europe.

So if all sectors are entered, it is clear that the yuan will affect world trade and banks will prepare themselves to be a bridge for payments, because clearly China wants the yuan to be used as a trading currency and other countries cannot escape because of that need. clearly the dollar currency as a currency that has been recognized as a rival in the future if the US does not see this opportunity as their attention.

[0t3p0t]

China wants to be the worlds most powerful economic and military assets. There is a possibility that they are planning to get away from the pegged US Dollar might. Mass productions of goods and cheap services in China boost their economy and maybe in the future they want Yuan to be independent and want a more faster transaction than fiat that is why there is this Digital Yuan.