Couldn't get my eyes over this:
.."China would create a digital currency system that can be entirely out of reach for U.S. authorities,
where the U.S.’s financial sanctions would have little effects."..
How long do you all think this will take? Any experts or enthusiasts around?
Stop! Let's back up a bit, all ... the ... way ... to ... the ... stone ... age!
Suppose I caught a rabbit, and cooked it, and you have some berries. You give me some berries and I give you a quarter of the rabbit to eat. We made a trade of goods (or services), we did not use money, we barter.
Fast forward and society moves on. Gold and silver were used to settle trade too. They were used as a medium of exchange.
Fast forward some more, and fiat currency was used to settle trade.
Fast forward to today, the way the global economic system works, it is based on trade, and the US Dollar is/was the linchpin for this world wide trade.
What we must be aware of in a general sense, is the role of the banks and the SWIFT system in this world wide trade. I do not know how it works specifically, you probably need to have a job on the inside, but all we need to know is that US Dollar transactions world wide, go through SWIFT and that goes through the US banking system, (which the CIA has its eyes on). One way of thinking about it, is that this is the plumbing. The money travels from a company, to the local bank, to SWIFT, then the US banking system.
Since the US banking system is under US jurisdiction, then they can do anything they want.
We can see how a digitized currency, or any currency that is not USD, or barter trade, can exist outside the plumbing for USD transactions.
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Huawei probably still does most of its international business in USD, but the Americans probably will not sanction that.
This is where the story gets complicated!
