Daily Archives: Oct 31, 2020 at 07:29 am EDT

Book Bits: 31 October 2020

China’s Trump Card: Cryptocurrency and its Game-Changing Role in Sino-US Trade
Raymond Yeung
Review via South China Morning Post
The US dollar will cease to be the de facto world currency as globalization retreats, so China and the United States should work together to create a globally used cryptocurrency – a strategy that would weaken the dollar, encourage American exports and help balance trade between the two superpowers.
These are the main takeaways from China’s Trump Card: Cryptocurrency and Its Game-Changing Role in Sino-US Trade, by Raymond Yeung, the chief Greater China economist at ANZ Bank. Yeung offers a novel, and somewhat wishful, proposal to one of the world’s most complicated and significant problems – the economic rivalry between the US and China.

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