Will the Digital Yuan makes China even more powerful?

[KenCryptos]

China has been testing the Digital Yuan and soon the Digital Yuan (DCEP) will be implemented soon. Will this move make China even more independent and more powerful? And what are the consequences for the world trade?

Read the article: China Soon to Legalize Digital Yuan and Ban Other Stablecoins, DCEP to Work With WeChat and AliPay

[Mauser]

China has been testing the Digital Yuan and soon the Digital Yuan (DCEP) will be implemented soon. Will this move make China even more independent and more powerful? And what are the consequences for the world trade?

Read the article: China Soon to Legalize Digital Yuan and Ban Other Stablecoins, DCEP to Work With WeChat and AliPay

I don't think so. China is still not a free country, the economy and the hole nation is being controlled by the communist party. The same goes for the currency, the Yuan is not freely traded. So the same will likely go for the digital Yuan. Investors in a digital currency looking for security and independence. I think this currency will likely be important within China, but not internationally.

[Taskford]

China has been testing the Digital Yuan and soon the Digital Yuan (DCEP) will be implemented soon. Will this move make China even more independent and more powerful? And what are the consequences for the world trade?

Read the article: China Soon to Legalize Digital Yuan and Ban Other Stablecoins, DCEP to Work With WeChat and AliPay

No, do you think the economy of China will rotate only to that? For sure there are other more important things China will focus into and those creation of digital yuan is to make them not outdated on the current trend in terms of new technology. Provably this one will rotate only in their country and for sure many people will be skeptical to use that due to some reasons.

[gentlemand]

It'll increase their control over their own citizens and economy so I guess in theory they'll be making more money. Internationally I can't see many nations or investors wanting to adopt something that remains under full Chinese control at all times. A flick of a switch and off your money goes.

[asriloni]

It will not make china more powerful. have you seen there's a lot of changes in china especially on its economic? If you have not yet seen any impact caused by the introduction of digital yuan and this is not giving any impact to the china itself. The creation of digital yuan to give the more alternatives payment for its citizens.

It's different with a stable coin that exists in the crypto market. The world will be changed its trade system by implementing the digital transaction by using digital currency. 

[Chrystora123]

Digital Yuan makes China even more powerful!! I think it wouldn't.  Currently, the use of the Digital Yuan is still in the testing phase in China and if it is successful I am sure other countries will definitely follow in China's steps to make their own cryptocurrency.  China is only converting their fiat currency to cryptocurrency so it won't have a big impact on their influence on the outside..

[slapper]

This only increases the power of the Chinese government over its citizens. When the Digital Yuan releases, there will be no doubt they will totally centralize the people and the economy. It is hard to anticipate what will happen then.  We have never witnessed anything like this before. But I can sure that other countries will not easily accept DIgital Yuan as a payment method. Besides, those support China does not have enough facilities so as to run well this new form of money

This can be seen as a revolution of mankind. But trust me, the US will not let China do what they want. There will be restrictions over the economy and this new type of currency.

[Gozie51]

China has been testing the Digital Yuan and soon the Digital Yuan (DCEP) will be implemented soon. Will this move make China even more independent and more powerful? And what are the consequences for the world trade?

Yuan can only achieve such if it is able to push the us dollar out from global trading and exchange. Yuan is yet used to determine global price, in fact it is still far below euro, pounds, chef etc, so I don't think so. Until a time they can be used for trade in European zone and Africa especially. I also see that US government will work towards frustrating such move from China.

[Darker45]

Contrary to what others have said, I guess a digital yuan significantly contributes to the rising power of China whether domestically or globally. The digital yuan will internationalize the red currency way faster than before.

It is not a question domestically because it could easily be made mandatory to each and every citizen, but somehow debatable in the international scene. However, with China's global clout significantly increasing by the day, it could use a lot of leverage for the digital yuan to easily proliferate across the globe.

For example, China prefers that come 2022 Beijing Winter Olympics the digital yuan should be the one in use. Aside from that, it could also require its trade partners to shift to the use of digital yuan in all their transactions. Moreover, China could make the digital yuan the main currency in its Belt and Road Initiative (BRI). That covers 65 countries and 30% of the world's GDP. It could also ask all global contracts in line with Chinese grants to use the digital yuan. All this would sufficiently kickoff the use of this currency worldwide.

And most of all, the digital yuan would give China an all new level of domestic and global surveillance and monitoring.

[Kupid002]

China has been testing the Digital Yuan and soon the Digital Yuan (DCEP) will be implemented soon. Will this move make China even more independent and more powerful? And what are the consequences for the world trade?

Read the article: China Soon to Legalize Digital Yuan and Ban Other Stablecoins, DCEP to Work With WeChat and AliPay

Much moere advance compare to other country thats what I think will happen once they officially launch it and use by the people. It is a big help to their country in terms of technology and easy way to use money. it may help to boost thier economy if they can use that money in a right way. and make it accessible not only in their country but in other part of the world that many Chinese business man is working and finding a way to make thier life easy with the help of technology.

[FanEagle]

China doesn't need money to be powerful, they already have everything they could potentially need for world power, that is not what they are looking into in order to become the top dog in political stance.

The problem they have right now is they want to do stuff other nations wouldn't, like kill their own people, slave their workers, make the ccp or whatever the hell government is called richer and more powerful and be the best dictatorship in the world even more than Russia, which means they need other nations to shut up about it, that is all they need, if other nations accept china this way, they could do all those bad things and never face any problems, but other nations are not fine with it, so having a digital yuan wouldn't suddenly change that at all.

[ChiBitCTy]

I have a Chinese buddy I've been talking to about this.  I think this makes China more powerful as a country/dictator overseeing their own citizens, but I don't think that it necessarily makes them a more powerful nation overall , to the outside world, that is.  It certainly creates an even more oppressive regime since now they'll be able to monitor every single spending habit of their own people. As for global dominance what difference does it make to the rest of the world? None that I can think of off the top of my head.

[ampu]

The digital yuan could be even stronger if countries around the world agree to use them in transactions. This depends on how China attracts the world. I think they'll probably do it because they're good at business. Seeing China's presence in the world and creating their businesses we can see how influential they are to countries.

[Eureka_07]

<snip>
Will this move make China even more independent and more powerful? And what are the consequences for the world trade?
<snip>

I don't know much about their plan, but can you tell me if they are planning to also launched it to the market worldwide?
If not, and they will just keep it exclusive for their country, it won't affect the trades worldwide.
There might be slight effects due to some reason of market relations and connections.
It's possible that it can get more power/value to the market if investors see some good opportunity on this one.
It will surely be powerful enough since they can track how their citizens spends their money (information is power).

[Blackrain13]

China has been testing the Digital Yuan and soon the Digital Yuan (DCEP) will be implemented soon. Will this move make China even more independent and more powerful? And what are the consequences for the world trade?

Read the article: China Soon to Legalize Digital Yuan and Ban Other Stablecoins, DCEP to Work With WeChat and AliPay

I don't think so. China is still not a free country, the economy and the hole nation is being controlled by the communist party. The same goes for the currency, the Yuan is not freely traded. So the same will likely go for the digital Yuan. Investors in a digital currency looking for security and independence. I think this currency will likely be important within China, but not internationally.

Yes ,I agree that the digital Yuan will become important only in China and Chinese people. I think it will become valuable also on their country if ever because for sure many Chinese people will support it.

[mersal]

China has been testing the Digital Yuan and soon the Digital Yuan (DCEP) will be implemented soon. Will this move make China even more independent and more powerful? And what are the consequences for the world trade?

Read the article: China Soon to Legalize Digital Yuan and Ban Other Stablecoins, DCEP to Work With WeChat and AliPay

Digital currencies are not going to increase the economy more powerful in anyway, it is helpful to avoid the banking sectors which itself has its pros and cons.Aoart from this China still have to use the USD based values for anything importing or exporting so these digital currencies are just to stop the decentralized economy.

[Fortify]

In order for any currency to be popular and used around the world people need to have some trust in the government. It has become more apparent over time that the political elites in China have little respect for other countries around the world and are all too quick to bully other countries into submission. The default stance of "you have offended the Chinese people" every time something does not go your way has gotten rather boring now and it's these sort of actions that means any currency under the control of China will not receive much respect.

[BrewMaster]

i think this is yet another big step in China's master plan for world domination. they want to have more power economically and be far ahead of all other countries. so far you can see their foothold in all parts of the world which happens to be strong too.
while people are focusing to much on domestic use of Digital Yuan i don't think it is going to have that much usage domestically. the main work will be global and between countries.
more important of all is that they are going to be the first country who did this. even if other countries started today they will be playing catch up with a 2 year headstart of China.

[Haunebu]

Nonsense. What is up with all these world domination crappy threads these days? Everyone are aware of how China doesn't encourage complete freedom by banning popular apps etc restricting their citizens and digital yuan is another strategy to control their citizens.

This won't make the citizens more powerful. Instead, it will strengthen the power of the government.

[cryptoboss2020]

money cant be the object of the attention himself but just means of exchnge between people.
its silly to say that ending the fiat currency will make world better lol