China vs. The Dollar | Diana Choyleva
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 31 July 2024
⏱️ 65 minutes
🧾️ Download transcript
Summary
China’s decoupling from the Dollar. Are we on the brink of using the yuan as the new global currency, or will crypto take the spotlight?
We’ve explored crypto’s role in disrupting the global monetary order before, but there’s another force that’s going to have just as much of an impact…some would say much more. China!
What does it look like when the world’s 2nd largest economy dedollarizes? That’s what we explore on today’s episode with China expert and economist Diana Choyleva. Towards the end, Diana also reveals her eye-opening prediction about a potential US-China conflict over Taiwan.
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TIMESTAMPS
0:00 Intro
7:17 Is China Really De-Dollarizing?
10:16 Is De-Dollarizing A Priority?
14:14 China’s Objective & Progress?
16:04 Yuan as Unit Of Payment Or Store Of Value?
22:27 Usage and Progress From 2009?
25:34 US VS China Capital Market Difference
29:32 Motives Behind De-Dollarizing?
35:32 China’s Wants VS Actual Scenario
40:25 What Distant Future Looks Like?
47:41 China’s CBDC Plan, Issues & Expansion
55:13 China Participating In Crypto World?
57:50 China Using Treasury As Store of Value?
1:04:26 The Taiwan Conflict?
1:05:51 What If China Is Successful?
1:09:37 Closing and Disclosures
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RESOURCES
Diana Choyleva
https://x.com/choyleva
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to Bankless, where today we explore the frontier of China's decoupling from the dollar. |
| 0:12.0 | This is Ryan Sean Adams. |
| 0:13.0 | I'm here with David Hoffman, |
| 0:14.2 | and we're here to help you become more bankless. |
| 0:17.8 | The question today, are we all going to be using the Yuan soon? |
| 0:22.0 | Wow. We laugh, but that may very well be the case at least if we're not using |
| 0:26.4 | crypto we've explored crypto's role in disrupting the global monetary order |
| 0:30.0 | before that's kind of the genesis of the bankless podcast in the first place |
| 0:33.4 | but there's another force that's going to have just as much impact on the global |
| 0:37.9 | monetary order and some would say even much more and that is China. So what does it look like when the world's second largest |
| 0:44.9 | economy de-dollarizes? That process is ongoing now. That's what we explore in today's episode of China |
| 0:50.7 | expert and economist Diana Shaleva and what a ride this was especially |
| 0:54.6 | toward the end when she gives us her prediction on the probability of a US versus China |
| 0:58.8 | hot war over Taiwan did not make me feel very comfortable. |
| 1:02.8 | crypto is one technology out of a subset of technologies that are coming online this |
| 1:08.0 | next decade. |
| 1:09.0 | Cryptography puts power on to the long tail and many other technologies will also just kind of make us turn into a |
| 1:15.4 | multi-polar world and this is what China wants at least according to Diana. China wants to have a |
| 1:20.4 | multi-polar currency that the globe uses that planet Earth uses and I think this is |
| 1:27.2 | especially relevant for us in the crypto industry because we are dealing in the world |
| 1:30.4 | of new money form factors and new monies, but also just technologies at large. |
| 1:35.8 | So understanding the second largest world power and what its motivations are and what it wants |
... |
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