When anyone promotes services to buy cryptocurrency based on my video, be informed that I do not have any connection with any services, nor do I recommend any cryptocurrencies or purchases from from my side. My video is intended to inform about China's CBDC/DCEP, not to promote crypto!
I dont' care. I'm putting my life savings and liquidating my parents whole life insurance policy cash surrender value and putting it all into cryptos. I've also purposefully defaulted on my student loans and put the monthly payments into Dollar cost averaging into cryptos as well.
Hey Pascal, have been living in China the past 5 years and have to say you are just nailing it every time. A lot to learn from you. Hope you get your 100k followers soon so more people can get a more balanced view on China.
Key to the China future using the digital currency - faster, cheaper, and safer. Which country of trader would not like to do business with China. Pascal: your explanation on this kind of complex issue is so simple, for someone like me. NO need to go to a business school to know what you are talking about.
Exiting times! I only have the experience of the cashless payments while living in China, and it is hard to describe how revolutionary that is to people who haven't experienced this kind of wallet-less life.
Where are these OECD countries using lots ok cash? In Europe, UK, and Australia I see people using Apple pay, phone based card apps, and lots of PayPass/PayWave. Cash has been pretty dead in major places for ages
@@happyhappynuts I'm living in Australia but wechat is way better than pay wave and careless cash etc. You can transfer money in literally seconds. And there are whole ecosystem within in the we chat system. You can pay bill, shopping, booking tickets and hotels, booking taxis and etc. all in this one app. Also not to mention there is zero surcharge.
@@sunhannah2937 are you not already able to transfer and pay with comm bank app? Ived used both WeChat and of course paywave. It's way quicker with paywave. In any case, it's deceptive to say people are using cash in other countries when they are not
Time to ditch US dollar currency. Enough of the US bullying and medlling Asia's affair. The bullied countries by the US should unite and ditch US dollars. Enough of the US bully.
I'm from Burma and most of us wants US to come to us, meddling our country and fight for our people whose unarmed from well armed brutal military directorship, but actually US listened to you.
Alot of countries will be willing to keep digital yuan as reserved currency as it can bypass US sanction. Business among countries will go into real "free market". Bypassing saction is the biggest attraction.
Why on earth would countries keep the Digital Yuan when it will constantly lose value? It's made like that by design so that it makes people spend it. The CCP needs people to spend money quickly and this is the way for them to do it. You can't save money in this digital Yuan because it'll losing value over time. It will be useless in the western world because it'd have no value to them.
@@Zefar77 It doesn't constantly lose value, dumbass. In the pilot program the money had an expiration date, but that was only because it was free money the government gave to people to spend so they could test the system.
Great video, and very informative. The current international payment system is held hostage by the whims of one country. I'm looking forward to an alternative.
@Molly Wop Chainsaw I see you're a pessimist. Maybe life is hard for you, that's why you manifest such statements. I don't blame you, it's tough living in a world full of rhetorics especially coming from the western media. A pessimist doesn't see a bright future anyway. So, who is delusional, only the future can tell ..
@@PascalCoppens Hi, may I put up another request? Wondering if you can give some perspectives on the western criticisms against China? What's your angle?
@@JeromeHengZHWang I am writing a new book that will include that topic. So will release some videos about it later on when I am a little closer to releasing it.
it essentially means no more reserve currency. it isn't suppose to replace the USD as reserve currency. it will kill the need for it. you no longer need to borrow and hold USD to do international business. everyone part of the trade chain will get pay instantly when their part of the chain comes up. also, no more bank deposits. this will also make banks useless.
OOH.!!! You just described United States of America. Who waged more wars in the last 50 years, bombing countries in your backyard. ... and torture camps like Guantanamo in Cuba.
The british ought to know about human rights abuses. They have earned that reputation a while back, during the colonial days and have kept at it more recently in Afghanistan and the Middle East. Exposing these abuses requires honest and professional journalism which would exclude the bbc.
Isn't it strange that everything from China is now reduced to human rights. I wonder why BBC waited 30 years to make it an issue? 10-20-30 years ago, China had many more human rights issues in my experience.
US will sure force down the value of the yuan. Recently it tried but the yuan climbed back immediately. When China launched its digital currency, US will try again to force sale the yuan. But China have more than a trillion US$ reserves to counter US's malicious intention. With a digital currency, there's no need to acquire the US$ as and when US print more of them. The effect on US would be a total disaster.
That's so cool to see how China is supporting its factories by integrating new tech and new ideas. This is will be a welcomed innovation for global manufacturing. I am imagining customs and import duties being streamlined by the IoT and high speed internet.
Thanks for the video. Very clear explanation about digital currency. Regardless some one, government or credit companies is peeking your private data. The difference is credit company will sell your data for profits
Even without the introduction of digital currency the value of US is slowing going down the drain.. give it another 1 year the value of the US dollars will go on a spiral and free fall...with the fall of Dow Jones leading the pack couple with high unemployment and inflation...
What I like the most about this channel is that it neither pro China nor is it anti China. It tells you the things als they are, without any ideological filters. Good job!
It's mind-blowing how innovative China is, from being (still is) a underdeveloped country of mostly farmers to become the world leader in manufacturing and now the next step into finance. China just started the exponential growth with the CBDC. It's strange that the US are so short sighted and take a relax attitude to the digital currency.
Great video! This is such an important topic but there aren't many people talking about it in an objective way like you did. Most people only focus on talking about how bad digital RMB is. One problem I have but can never find the answer: Does that mean China will run its own SWIFT like system? Or will other countries still need to go through SWIFT to buy digital RMB?
As SWIFT could keep China vulnerable to sanctions, it sounds logical that China is going to put emphasis on CIPS independence as well. Most international traders will prefer a SWIFT system in next years to come. So pragmatically, SWIFT is here to stay for China until a geopolitical issue changes that balance.
US used the money laundering by terrorists as excuse and then hijacked SWIFT. US was looking to pressure WHO to do things its way, failed, then Trump quit WHO.
What if the US is currently printing like there is no tomorrow because it's exactly that, there will be no tomorrow for the dollar! If all these "debt" are in US dollar, what happens if they launch a new legal digital currency concurrent to the dollar?
It doesn't end political influence on transactions, it just bring another player to the table. China could presumably cut transactions to companies who defy China's ruling government.
Pascal, you’re killing it. Content, info value, delivery, absolutely captivating. I’ll pass your channel on anyone interested in China. Keep up the great work and lets grow your subscriber base at the same rate as the U.S. is growing its debts 😅
The usd reserve currency is being used by the word in over 80% of global transactions. This will become less and less with digital currencies. Digital currency is self accounting mechanism. Because that's what all money fiat or not is. Money is accounting mechanism. And cryptotech stable coin digital currency is self accounting.
China does not conceive of Digital Yuan in isolation. Neither is BRI. Nor its space programme. There is an overall plan which pieces all these development together.
TQ, helps me understand what is, and the reasons for having a CBDC. Great video! There are still gaps in my understanding, so I'd better play it again. :)
Really appreciate and enjoy your video, thx. Carry on, a lot of us will be able to understand more about China, good, bad and even ugly. I will tell all my colleagues at work to subscribe your site as well.
This is May 2024 and I just watched a video on CBDC Banks in the Caribbean Islands. This helps to get around US control SWIFT to sanctions countries 😅😂 Thanks again Pascal for mentioning this 3 years ago.
Bitcoin and CBDC are different in many ways although they share some of technology underneath. For people who are interested in investing digital currency, be aware of the difference.
China has the big data to make a good decision on the implementation of Digital Yuan. Other countries may take a longer time to fully implement their own digital money.
Great explanation on DCEP without getting technical. One advantage of China's CBDC I think is that M2 growth will be more correlated to the velocity of money flow in the main street economy. The current system relies a lot on financial institutions for the distribution of central banks' money and often times gets circulated only within the financial sector.
What is the cheapest and best way to move money out of the dollar to the Chinese digital currency? What do you see as the very best way to maintain the value of your currency during this year and the next five years? In other words, how and where is the best way to maintain value if you are holding dollars?
Couple of ways I could think of, 1) easiest way is probably buying ETFs designated to Chinese market; 2) trade with China and ask RMB; 3) buy gold or art, fly there and laundry your money. Crpto is outlawed in China, so it is not an option.
The future of currency is gold. Gold picocircuitry embeded notes that are devalued each time you spend. You will have one note. It will be charged with $Xs. Then as you use it to buy things it will devalue until it has a base gold value.
@@SMunro so I pay in, say, micrograms of gold for a book? Or nanograms for a coffee? Why happens if someone finds an easy to refine ore with a million tonnes of gold?
@@elmersbalm5219 no, the gold in the note is just the circuitry in which is coded by capacitance and resistance circuit paths that as you spend from your gold currency, become less valuable, until the currency note is worth only its gold value.
One glaring omission in Pascal's presentation. Before Chinese currency can become an international medium of exchange is for individual Chinese to be able move money outside of China easily.
For individuals I do not see China's CBDC taking a big uptake internationally, but for traders I believe it is a different story. No problem to exchange for trade.
So it's like a universal gift card that is on your phone where I buy from a seller and the seller can also use my purchase money to buy things from others without going through a bank each time. A mini bank on the phone. What happens if the digital device that has the digital currency crashes?
Great presentation! Yes, I think DCEP will become huge, not in the west but soon being launched in East Asian and Belt & Road countries. And I believe that the west needs to come up with a global digital currency to combat China's large first-mover advantage with DCEP.
China is the biggest producer in the world. It's not hard to topple USD if China wants to. Imagine one day China refuses to accept USD for any goods that other countries wishes to purchase. Everyone will be forced to use Chinese Digital Currency to continue trading with China.
It should help both, as well as the country. As for the people, it should help smaller businesses and lower class relatively more than the middle class and rich Chinese.
@@PascalCoppens according to James Rickards economist when this dollar digital comes to America means bad news digital dollar will shrink the stock market what will happen to pensions savings account IRA accounts
For all of the concern/alarming points about this DCEP, you only mentioned that PBOC is so good and credible that it will take care of it. but in reality, all power will go to PBOC.
Best things about the china digital currency model are: 1... eliminates stealing money by theft or robbery (criminals are identified along with proof of the crime) 2... allows complete criminal networks to be identified by their transactions 3... allows central monetary policy to optimize the economy in many ways. Here are 2 examples. If a region has an unstable risky over heated housing market that will ultimately crash, the central planners can selectively cool down that sector of economy for that region. If a sector of the economy is suffering a low factory utilization rate, then that sector can be improved with a targeted transaction policy to boost sales for those factory products. 4... returns creation & control of a country’s currency & economy from the bankers back to the government.
Hell, I'm new to bitcoin trade and I've been making huge losses but recently I see a lot of people earning from it. please can someone tell me what I'm doing wrong?
Wow I'm amazed you mentioned expert Mrs Olivia,She is the best and how strategies works like magic. I've I have been making over 300% of my investment weekly one since I started investing with her trading service
I still don't understand. What is all this different then having money in the account and using a debit or credit card it's still like what you just explain and no mater what bank account will be still there !?
Your channel is a gem! Get a lot more insights on China from you! I am sure 100k subscribers shouldn't be a problem!
When anyone promotes services to buy cryptocurrency based on my video, be informed that I do not have any connection with any services, nor do I recommend any cryptocurrencies or purchases from from my side. My video is intended to inform about China's CBDC/DCEP, not to promote crypto!
It looks like pyramid scheme to me. :)
@@oceanwave4502 could be.
I dont' care. I'm putting my life savings and liquidating my parents whole life insurance policy cash surrender value and putting it all into cryptos. I've also purposefully defaulted on my student loans and put the monthly payments into Dollar cost averaging into cryptos as well.
@@mrzack888 got news for you, crypto without backing up is a Ponzi scheme.. Don't hurt yourselves.
@@Walawala459 wrong. crypto is money. it's also assets. its like saying the Dow Jones or apple or amazon is a ponzi scheme.
Hey Pascal, have been living in China the past 5 years and have to say you are just nailing it every time. A lot to learn from you. Hope you get your 100k followers soon so more people can get a more balanced view on China.
Appreciated. Thanks!
@vinct choon No need to use swearwords though
You'll be kicked out in a couple of years when the feelings of the Chinese people are hurt.
ONLY BRITIAN CAN confront china now. We must not let asians overtake the west
@@johnbuffaloiam9741 What do you mean by overtake specifically?
Crystal clear, informative , articulate, great work!
totally agree, while it is new and can be hard to understand.
Key to the China future using the digital currency - faster, cheaper, and safer. Which country of trader would not like to do business with China. Pascal: your explanation on this kind of complex issue is so simple, for someone like me. NO need to go to a business school to know what you are talking about.
Exiting times! I only have the experience of the cashless payments while living in China, and it is hard to describe how revolutionary that is to people who haven't experienced this kind of wallet-less life.
It's wallet-free for Chinese, I haven't touched my wallet for almost three years... the only chance I need to find my wallet is to get my ID card...
Where are these OECD countries using lots ok cash? In Europe, UK, and Australia I see people using Apple pay, phone based card apps, and lots of PayPass/PayWave.
Cash has been pretty dead in major places for ages
@@zhangyi5145 .k
@@happyhappynuts I'm living in Australia but wechat is way better than pay wave and careless cash etc. You can transfer money in literally seconds. And there are whole ecosystem within in the we chat system. You can pay bill, shopping, booking tickets and hotels, booking taxis and etc. all in this one app. Also not to mention there is zero surcharge.
@@sunhannah2937 are you not already able to transfer and pay with comm bank app?
Ived used both WeChat and of course paywave.
It's way quicker with paywave.
In any case, it's deceptive to say people are using cash in other countries when they are not
Time to ditch US dollar currency. Enough of the US bullying and medlling Asia's affair. The bullied countries by the US should unite and ditch US dollars. Enough of the US bully.
I'm from Burma and most of us wants US to come to us, meddling our country and fight for our people whose unarmed from well armed brutal military directorship, but actually US listened to you.
Happening closer than expected. 😆
Let me get this straight: you’d rather be ruled the “bullying” thugs in China and Russia? Grow up! You got it good now.
@@Boolai lmao
Alot of countries will be willing to keep digital yuan as reserved currency as it can bypass US sanction. Business among countries will go into real "free market". Bypassing saction is the biggest attraction.
What a about quantum finance system which chinese build?
i believe you are right, drmb will be liberating.
We need it in Ethiopia. The people are desperate.
Why on earth would countries keep the Digital Yuan when it will constantly lose value?
It's made like that by design so that it makes people spend it. The CCP needs people to spend money quickly and this is the way for them to do it.
You can't save money in this digital Yuan because it'll losing value over time.
It will be useless in the western world because it'd have no value to them.
@@Zefar77 It doesn't constantly lose value, dumbass. In the pilot program the money had an expiration date, but that was only because it was free money the government gave to people to spend so they could test the system.
Great video, and very informative. The current international payment system is held hostage by the whims of one country. I'm looking forward to an alternative.
Many CBDCs will be coming soon
Greetings gentlemen, welcome to the Chinese Century, the land of plenty
Dawn of the Chinese Century
@Molly Wop Chainsaw very funny joke..hahaha
@Molly Wop Chainsaw I see you're a pessimist. Maybe life is hard for you, that's why you manifest such statements. I don't blame you, it's tough living in a world full of rhetorics especially coming from the western media. A pessimist doesn't see a bright future anyway. So, who is delusional, only the future can tell ..
@Molly Wop Chainsaw Only Biden/Harris are the war mongers.
@Molly Wop Chainsaw There's a reason its called a Cold war and not a hot one
Takes money to print money, takes money to manage physical money, but digital currency will save you money.
May 28 2021 come on over to Shiba family sticking together at least if we are on one coin we won't lose money but can make money 👍🙏❤️💰
Goodbye US sanction lol
Good video once again 😊 greetings from Australia
Never been to Australia, but many friend there. Take care
@@PascalCoppens Hi, may I put up another request? Wondering if you can give some perspectives on the western criticisms against China? What's your angle?
@@JeromeHengZHWang I am writing a new book that will include that topic. So will release some videos about it later on when I am a little closer to releasing it.
@@PascalCoppens thank you very much. Appreciate your efforts
I need to watch this again. It is rather complicated, but it's very interesting.
Thanks
it essentially means no more reserve currency. it isn't suppose to replace the USD as reserve currency. it will kill the need for it. you no longer need to borrow and hold USD to do international business. everyone part of the trade chain will get pay instantly when their part of the chain comes up. also, no more bank deposits. this will also make banks useless.
Pascal, your channel is very interesting. Keep up the good work 👍🏻😀
Thanks. Will do
A bbc presenter would start off with “ how can the world accept a digital currency from a country that abuses human rights “
ha!
✌️
So true
True dat
OOH.!!! You just described United States of America. Who waged more wars in the last 50 years, bombing countries in your backyard. ... and torture camps like Guantanamo in Cuba.
The british ought to know about human rights abuses. They have earned that reputation a while back, during the colonial days and have kept at it more recently in Afghanistan and the Middle East. Exposing these abuses requires honest and professional journalism which would exclude the bbc.
Isn't it strange that everything from China is now reduced to human rights. I wonder why BBC waited 30 years to make it an issue? 10-20-30 years ago, China had many more human rights issues in my experience.
When the West is not happy , you know you are heading the right direction =P
The right direction if your goal is to destroy and steal
@@manuelfilioferreira4178 We all know who destroy and steal =P
@@陈诚-i9f If you're using a VPN, it should be to learn the truth
@@陈诚-i9f I know you are in mainland china because there's no言 radical in your name
@@manuelfilioferreira4178 thats all you got to say ?
Good analysis pascal with no bias, keep the good work up
Thanks
US will sure force down the value of the yuan. Recently it tried but the yuan climbed back immediately. When China launched its digital currency, US will try again to force sale the yuan. But China have more than a trillion US$ reserves to counter US's malicious intention. With a digital currency, there's no need to acquire the US$ as and when US print more of them. The effect on US would be a total disaster.
The US$ is heading for a collapse in years to come, as they print billions to "Stimulate their economy"
Dont think the US hold enough Yuan to force sale it. They hardly hold much foreign reserves.
USD are always a weapon, alternate currency is needed
That's so cool to see how China is supporting its factories by integrating new tech and new ideas. This is will be a welcomed innovation for global manufacturing. I am imagining customs and import duties being streamlined by the IoT and high speed internet.
Definitively
hopefully digital currency will make international trade more efficient
a very detailed video about the digital currency
Thx
Thanks for the video. Very clear explanation about digital currency. Regardless some one, government or credit companies is peeking your private data. The difference is credit company will sell your data for profits
Very true
Even without the introduction of digital currency the value of US is slowing going down the drain..
give it another 1 year the value of the US dollars will go on a spiral and free fall...with the fall of Dow Jones leading the pack couple with high unemployment and inflation...
Hope it does bring a seismic change. Long overdue.
Very insightful video , thank you
Thanks.
What I like the most about this channel is that it neither pro China nor is it anti China. It tells you the things als they are, without any ideological filters. Good job!
Wonderful. Compelling and professional treatment and presentation.
Thanks for enlightment
Thanks
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Each country has right to use their own currency. Whatever..! F the dollars.
Nice video ,really interesting times.
They are indeed interesting times.
It's mind-blowing how innovative China is, from being (still is) a underdeveloped country of mostly farmers to become the world leader in manufacturing and now the next step into finance. China just started the exponential growth with the CBDC. It's strange that the US are so short sighted and take a relax attitude to the digital currency.
Great video! This is such an important topic but there aren't many people talking about it in an objective way like you did. Most people only focus on talking about how bad digital RMB is.
One problem I have but can never find the answer: Does that mean China will run its own SWIFT like system? Or will other countries still need to go through SWIFT to buy digital RMB?
As SWIFT could keep China vulnerable to sanctions, it sounds logical that China is going to put emphasis on CIPS independence as well. Most international traders will prefer a SWIFT system in next years to come. So pragmatically, SWIFT is here to stay for China until a geopolitical issue changes that balance.
But I guess SWIFT system can be abused by America only if it involves dollar transactions?
US used the money laundering by terrorists as excuse and then hijacked SWIFT. US was looking to pressure WHO to do things its way, failed, then Trump quit WHO.
其实设计是国内用的，和人民币国际使用关系不大。
@@art-543 I believe it will be large impact in cross boarder trade with China, not much else indeed.
What if the US is currently printing like there is no tomorrow because it's exactly that, there will be no tomorrow for the dollar!
If all these "debt" are in US dollar, what happens if they launch a new legal digital currency concurrent to the dollar?
Today it's not about return ON capital. Today it is about return OF capital
Great topic you covered.
So relevant. This will be the "resource" wars will be fought over.
Keep up the good work Pascal. Cheers.
Thanks
Thanks a lot! PASCAL.
My pleasure
Merci Pascal ... ce sera peut-être ENFIN la monaie de la PAIX
I hope Chine will succeed here. World will benefit if transactions will stop being political.
If it was a BBC program. But it isn't. Programs about coin not abuse. Find another channel to vent
@@leighpilfoot255 ???
When you have only one political party, everything is political and nothing is political.
China will fail.
It doesn't end political influence on transactions, it just bring another player to the table. China could presumably cut transactions to companies who defy China's ruling government.
Pascal, you’re killing it. Content, info value, delivery, absolutely captivating. I’ll pass your channel on anyone interested in China. Keep up the great work and lets grow your subscriber base at the same rate as the U.S. is growing its debts 😅
Hahaha... Thanks for sharing my channel!
Very well researched and presented. Thank you. Pascal
👍Very good explanation on cbdc. Glad to see if you are able to catch up with the recent hot XinJiang issue on the view of economical analysis.
Very important info yes!! Well put!!
Thanks. Appreciated.
@@PascalCoppens
Wise Chinese sayings:
Never again.
Only show it when it shines.
West can learn from them.
Enjoy your video, will watch out for more videos from you.
Thanks. Will do. Let me know if you have any topics you could like me to cover.
Very enlightening.
Thanks for this video
Pleasure.
The usd reserve currency is being used by the word in over 80% of global transactions. This will become less and less with digital currencies. Digital currency is self accounting mechanism. Because that's what all money fiat or not is. Money is accounting mechanism. And cryptotech stable coin digital currency is self accounting.
59% as of last month according to IMF report
i wonder why the free press isnt talking about this subject
😍
How much of it - is attributed to the petro-dollars!
@@cheesypuffs1342 where can I find that data? Thanks friend.
nvm, Found it. bloomberg article
Its happenning, globe the largest network in the phils, already had the platform alipay. Not bad.
China does not conceive of Digital Yuan in isolation. Neither is BRI. Nor its space programme. There is an overall plan which pieces all these development together.
I was exactly searching for this information, it's becoming hard to find unbiased informations about it. Thanks for the video!
Thanks!
The threat to the USD is the USD itself
Thanks God I lucky find your channel.
Welcome!
very good channel ! thank you !
Thanks!
You will easily get your 100K subscribers because your presentation is great. Thank you.
TQ, helps me understand what is, and the reasons for having a CBDC. Great video! There are still gaps in my understanding, so I'd better play it again. :)
Glad it was helpful! Do play again ;-)
In a free market choice is good. Why shouldn't people have more choices in the currency they use for trade?
Thank you , very informative and very enjoyable to watch
Glad it was helpful!
Really appreciate and enjoy your video, thx.
Carry on, a lot of us will be able to understand more about China, good, bad and even ugly.
I will tell all my colleagues at work to subscribe your site as well.
This is May 2024 and I just watched a video on CBDC Banks in the Caribbean Islands. This helps to get around US control SWIFT to sanctions countries 😅😂
Thanks again Pascal for mentioning this 3 years ago.
Amazing insights ! Looking forward to more.
Just subscribed to a great channel 👍🏻👍🏻
Thanks for subscribing
Bitcoin and CBDC are different in many ways although they share some of technology underneath. For people who are interested in investing digital currency, be aware of the difference.
Good job to explain this👍
Thx
yet another insightful vid, brill, ta.
China has the big data to make a good decision on the implementation of Digital Yuan. Other countries may take a longer time to fully implement their own digital money.
Great explanation on DCEP without getting technical. One advantage of China's CBDC I think is that M2 growth will be more correlated to the velocity of money flow in the main street economy. The current system relies a lot on financial institutions for the distribution of central banks' money and often times gets circulated only within the financial sector.
Your statements are so knowledgeable and eloquent it brightens my day. Many thanks
Wow! Very informative. Thank you so much!!!
Thx
I am so lucky to find your channel these are the topics I am really watching as a geopolitical is my favourite
Thanks
Crypto is all over the place the world needs more centralized Digital Currency's like CBDC/DCEP,
What is the cheapest and best way to move money out of the dollar to the Chinese digital currency? What do you see as the very best way to maintain the value of your currency during this year and the next five years? In other words, how and where is the best way to maintain value if you are holding dollars?
Couple of ways I could think of, 1) easiest way is probably buying ETFs designated to Chinese market; 2) trade with China and ask RMB; 3) buy gold or art, fly there and laundry your money. Crpto is outlawed in China, so it is not an option.
Thanks for this interesting topic and nice explanation!
Glad you liked it!
The future of currency is gold. Gold picocircuitry embeded notes that are devalued each time you spend. You will have one note. It will be charged with $Xs. Then as you use it to buy things it will devalue until it has a base gold value.
And who determines the price of gold?
@@elmersbalm5219 given there wont be any other currency, no one.
@@SMunro so I pay in, say, micrograms of gold for a book? Or nanograms for a coffee? Why happens if someone finds an easy to refine ore with a million tonnes of gold?
@@elmersbalm5219 no, the gold in the note is just the circuitry in which is coded by capacitance and resistance circuit paths that as you spend from your gold currency, become less valuable, until the currency note is worth only its gold value.
@@SMunro goodness! I'll leave you to your thoughts. Sorry to intrude.
Excellent analysis!! . I think you'll be right in most of your thoughts
adding the word digital does not change the yuan or the dollar, if it is a number on your screen or paper in your hand, one is just easier to use.
Very insight and good job China
Thanks
One glaring omission in Pascal's presentation. Before Chinese currency can become an international medium of exchange is for individual Chinese to be able move money outside of China easily.
For individuals I do not see China's CBDC taking a big uptake internationally, but for traders I believe it is a different story. No problem to exchange for trade.
So it's like a universal gift card that is on your phone where I buy from a seller and the seller can also use my purchase money to buy things from others without going through a bank each time. A mini bank on the phone. What happens if the digital device that has the digital currency crashes?
Cloud indeed can help
Great analysis, thanks for sharing the video, have just subscribed
Analisis good.pascal👍
This channel deseves a lot more subscriber
Thanks!
Great presentation! Yes, I think DCEP will become huge, not in the west but soon being launched in East Asian and Belt & Road countries. And I believe that the west needs to come up with a global digital currency to combat China's large first-mover advantage with DCEP.
In this century the world is gonna level up in income
@@pascalcoppens398 thanks, Can't find you on whatsapp
@@shifuugincii you can find me on www.pascalcoppens.com
CHINA HAS E RIGHT TO PROTECT ITS OWN ECONOMIC N FUTURE BEFORE DISASTERS COMING.
China is the biggest producer in the world. It's not hard to topple USD if China wants to. Imagine one day China refuses to accept USD for any goods that other countries wishes to purchase. Everyone will be forced to use Chinese Digital Currency to continue trading with China.
Hello, I like your video, it is very understandable! Thank you for your useful information!
Glad you liked it
Sounds like this digital currency is going to benefit the government more than the people
It should help both, as well as the country. As for the people, it should help smaller businesses and lower class relatively more than the middle class and rich Chinese.
@@PascalCoppens according to James Rickards economist when this dollar digital comes to America means bad news digital dollar will shrink the stock market what will happen to pensions savings account IRA accounts
Is Biden watching your channel?
It will give him sleepless nights.
For all of the concern/alarming points about this DCEP, you only mentioned that PBOC is so good and credible that it will take care of it. but in reality, all power will go to PBOC.
PBOC will indeed have a more central role to play
You brighten my mind 👍👍👍👏👏👏
Thank you so much 😀
All praise to Almighty God amen.
the world is interesting and exciting with China making all these progress into the future
Unbiased channel
Is USD a threat to China's national security?
Not anymore. China is economically too big to get contained by USD driven sanctions
so practically no more institutional banks then
Best things about the china digital currency model are:
1... eliminates stealing money by theft or robbery (criminals are identified along with proof of the crime)
2... allows complete criminal networks to be identified by their transactions
3... allows central monetary policy to optimize the economy in many ways. Here are 2 examples. If a region has an unstable risky over heated housing market that will ultimately crash, the central planners can selectively cool down that sector of economy for that region. If a sector of the economy is suffering a low factory utilization rate, then that sector can be improved with a targeted transaction policy to boost sales for those factory products.
4... returns creation & control of a country’s currency & economy from the bankers back to the government.
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What is the advantage of getting a centralized digital currency ? I still do not understand
very interested,
I still don't understand. What is all this different then having money in the account and using a debit or credit card it's still like what you just explain and no mater what bank account will be still there !?
China is the first paper currency ... invitation...
Now ..... smart currency..... China is just Awesome.