A digital currency … a Chinese weapon to counter the dollar

With the rise of digital transformation in the world, China is launching its digital currency and seeking to turn it into a global currency, and this comes at a time when there are increasing calls to reduce dependence on the US dollar.

Will the United States stand by? Will China’s digital currency become a point of confrontation between Beijing and Washington?

Arab economic thinker Talal Abu Ghazaleh shed light on the Chinese digital currency and the dominant role of the dollar in the world.

He viewed the dollar as a weapon in the hands of the United States that is stronger and more powerful than fighter jets, bombs and missiles, indicating that the United States can, with a decision, cut off a person’s “livelihood” through the US currency.

Abu Ghazaleh added that China over the years refused to peg its currency, the yuan, to the dollar, noting that Beijing had come up with a plan to launch a digital currency.

He said: “At first, China turned to cashless transactions, that is, the adoption of electronic financial transactions among the population, and now most Chinese use the yuan currency electronically, and is currently experimenting with currency trading. digital”.

He added: “We are facing a dangerous situation, as China is preparing to launch a currency that will be an international currency … There will come a day and the world or part of it will use the Chinese digital currency, causing a war between United States and China “.