China is doing no less than building a new model in FinTech that will make the old model obsolete and in this way they are simply leapfrogging the current financial systems distributing the dollar with fast, lean and modern systems supporting the Financial Silk Road...Kick ass tech.
Quite rightly the Asiatimes is asking .. Who is actually decoupling from Whom? And I can add, and using modern FinTech to do so with solutions appropriate contextually to our modern world....
So, it is clear that both inside and outside of hard FinTech which this writing is about, the trajectory of recreating systems and simply leaving the US out, is alive and well....Excellent backgrounder.
The upshot.
The West is 20 years behind this technology, because China decided to leapfrog and not follow the accepted development trajectory and as such has reconfigured the potentials for the entire planet.
It is high time and in the words of Michael Hudson: “So the United States, through the World Bank, has become I think the most dangerous, right-wing, evil organization in modern history — more evil than the IMF. That’s why it’s almost always been run by a Secretary of Defense. It has always been explicitly military. It’s the hard fist of American imperialism.”
The world is leapfrogging, and elegantly zig-zagging around current imperial financial systems, for a true birth of a new post capitalist post industrial order, without going to war for it.The Vineyard of the Saker
What is China really doing with its digital Yuan?
Chris Faure
They're not letting it float at a free exchange rate?
ReplyDeleteHonest to godness, Trump makes some noise about 'decoupling' on trade, and China boosters are furiously masturbating upon peripherally related opportunities.