pull down to refresh
The only story I know about China mining in the US was in Wyoming a Chinese owned farm was raising concerns because it was next to an Air Force base.
There is definitely a race to develop a digital payment system, and I know that the US is on a path to a stablecoin for their system. I have not looked into what has been going on in China with their payments system, but I realize now that I probably should have.
I agree with you that China should consider Bitcoin as a neutral settlement system. I think every country should consider it.
China have mBridge, CIPS and numerous shadow banking channels. Regaining control of Hong Kong really opened up the possibilities- Hong Kong being the portal via which Britain originally gained trade payments access to Chinese markets back in The Opium Wars era and since. China understands the importance of banking channels and how they run parallel to military structures. China is building both determined not to be subject to US sanctions and leverage. If they adopted Bitcoin it would be a lot easier for other nations to accept that China is not building its own monetary hegemony to replace that of the US.
There is definitely a contest to develop the digital trade payments successor to SWIFT and its primarily between USA and China.
So far Strategy is winning.
Yawn.
Yeah keep yawning. It's only a 3x lead.
If you say so.
All this chart shows is that China has a large population and Mao should have died sooner.
And this one?
How is it that Chinas mixed economy can build dozens of new nuclear power generation plants at 1/6th the cost USA pays while crony capitalist USA struggles to build one or two after decades of trying?
Is it because Mrs Trump works for Putin and Mr Trump works for big oil ?
Our country is half communist. The laws that ban construction of nuclear plants, which Trump is trying to repeal, were all pushed through by leftist central planners.
Central planning is always bad. The US has a bunch of central planning and it's just as bad when we do it.
When China builds a nuclear plant it's because the pyschos in the government got out of the way and allowed other people to build it.
The state is for building weapons and concentration camps. The market serves the welfare of the common people. Every country has to adopt capitalism in its own way, or end up like the PRC.
When a country like the PRC decides to invest in gaining a global stranglehold over rare earths and other strategic supply lines, and nearly all other rare earth refiners give up and stop production because China does it cheaper, then 'the free market' you worship blindly, has been played, and captured.
USA today cannot fight a war of any scale and duration because it lacks supply of rare earths. USA is unlikely to regain a meaningful quantity of independent rare earth supply for at least decade...and even then it will come at massive cost in terms of government subsidies that will need to be paid to gain such independent supply capacity.
China has gained the upper hand strategically by having a more focused and determined central government while USA has lost due to over reliance upon the free market.
A mixed economy, when managed diligently can be more effective than Laissez-faire.
An economy is not just an isolated market where individuals compete, but rather it exists in the global environment where government compete for commodities, markets, technology, human and monetary capital and, push come to shave, military strength.
Chinas mercantile mixed economy model has crippled US capitalism by dominating global trade and by gaining strategic monopoly over rare earths and other supply chains.
I dont know about Bitmain building (mining?) in the US but guess it was after China banned mining there and so they moved mining hardware to US? Regarding Jack Ma- the CCP has invested a lot in building their CBDC and other protocols which can enable trade payments outside of the USD/SWIFT system. Jack Mas alipay was seen as a threat to the CCPs preferred CBDC Yuan A major example is mBridge a system for digital trade payments which was initially under the BIS but last year BIS distanced themselves from it as it had reached a point of development where it had the potential to threaten the USD/SWIFT hegemony that BIS id part of. The original initiators of mBridge were China, Thailand, the UAE and Hong Kong. Since then many more have joined and currently many of them including the Saudis are readying digital currencies capable of being used in the mBridge protocol. A natrion need to adopt a CBDC within its domestic economy to enable trade payments via mBridge- it just needs a digital token equivalent to its domestic currency with which to participate- this is what many mBridge members are now readying. Parallel to this is Trumps response with is USD Stablecoins. There is definitely a contest to develop the digital trade payments successor to SWIFT and its primarily between USA and China.