China's Plan to Decouple From the US Dollar | Diana Choyleva & Dinny McMahon

Hidden Forces

Demetri Kofinas

Government, Business

4.8 • 1.6K Ratings

🗓️ 5 December 2022

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In Episode 286 of Hidden Forces, Demetri Kofinas speaks with Diana Choyleva and Dinny McMahon, the co-authors of a comprehensive new report that examines China’s plans to decouple from the dollar-based global trading and financial system.

In this conversation, Choyleva and McMahon discuss Beijing’s rationale for wanting to transform the renminbi into an international currency, how the Chinese communist party is striving to make that transformation, why it might prove unattainable, and what progress we can expect them to make over the coming decade. Regardless of whether the yuan proves capable of challenging US Dollar hegemony, the changes that Beijing is pursuing will have a profound impact on the functioning of trade and financial markets around the world. These changes will create new challenges for governments, businesses, and investors. Understanding what these challenges are, the steps that Beijing will take to overcome them, and how policymakers in the US and Europe will respond is crucial to making any reliable forecast about the future of the international political economy.

If you want to listen to the second part of this conversation, which includes a discussion about the digital renminbi, how Beijing is trying to institutionalize yuan outflows and increase international demand for the yuan, and policy prescriptions for Western governments you can do that by becoming a subscriber to one of our three content tiers at HiddenForces.io/subscribe. All subscribers get access to our premium feed which you can listen to on your phone using your favorite podcast app just like you are listening to this episode right now.

If you want to join in on the conversation and become a member of our Hidden Forces Genius community, which includes Q&A calls with guests, access to special research and analysis, in-person events, and dinners, feel free to send an email to [email protected], and Demetri or someone else from our team will get right back to you.

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Episode Recorded on 12/01/2022

Transcript

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0:00.0	What's up everybody? My name is Dmitri Kaffinis and you're listening to Hidden Forces,
0:05.8	a podcast that inspires investors, entrepreneurs, and everyday citizens to challenge consensus
0:12.8	narratives and to learn how to think critically about the systems of power shaping our world.
0:18.5	My guests in this episode are Diana Choyleva and Danny McMahon, the co-authors of a comprehensive
0:24.8	new report that examines China's plans to decouple from the dollar-based global trading
0:30.9	and financial system. In our conversation today, Danny and Diana discuss Beijing's rationale
0:37.2	for wanting to transform the Redmond B into an international currency,
0:41.9	how the Chinese Communist Party is striving to make that transformation, why it might prove unattainable,
0:47.9	and what progress we can expect them to make over the coming decade.
0:52.2	Regardless of whether the yuan proves capable of challenging dollar hegemony,
0:56.9	the changes that Beijing is pursuing will have a profound impact on the functioning of trade
1:02.4	and financial markets around the world. These changes will create new challenges for governments,
1:08.3	businesses, and investors. Understanding what these challenges are, the steps that Beijing will
1:13.8	take in pursuing its objectives and how policy makers in the US and Europe will respond is crucial
1:20.6	to making any reliable forecast about the future of the international political economy.
1:26.4	If you want access to the second part of our conversation, which includes a discussion
1:31.6	about the digital Redmond B and how Beijing is trying to institutionalize you on outflows
1:37.2	and increase international demand for the currency, as well as policy prescriptions for Western
1:42.9	governments, head over to hiddenforces.io, slash subscribe, and sign up to one of our three content
1:49.7	tiers. All subscribers get access to our premium feed, which you can listen to on your phone
1:55.2	using your favorite podcast app, just like you're listening to this episode right now.
2:01.2	If you want to join in on the conversation and become a member of the Hidden Forces
	...

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