Huge Trap! China Promotes the Internationalization of RMB, Digital RMB Causes Big Economic Trouble

Huge Trap! China Promotes the Internationalization of RMB, Digital RMB Causes Big Economic Trouble

Huge Trap! China Promotes the Internationalization of RMB, Digital RMB Causes Big Economic Trouble

In recent years, the central bank has had to print vast amounts of money, and the printing factories are struggling to keep up. This has led to instances where duplicate banknotes with identical serial numbers have been printed and circulated. Given China's enormous market, it has become increasingly difficult to locate these duplicates, and the Chinese Government Party now finds controlling the printing factories challenging.

However, this development spells trouble for ordinary people. Some individuals who wanted to save money for their children's education abroad found themselves questioned by the central bank when their Digital RMB wallets held enough money for a house down payment, asking why they didn't purchase a house instead. Alipay team is reportedly researching how to use the Digital RMB for mortgage and car loan payments, offering a 5% discount. The Chinese government could also issue special Digital RMB for real estate, forcing residents who receive these funds to purchase property or otherwise render the special currency unusable.

The Digital RMB can also potentially restrict the types and quantities of products people can purchase. During specific periods, the Chinese government can use the Digital RMB to ensure that certain goods are only bought by designated groups. For example, in the event of a food shortage, the government may limit a family to purchasing only 2.5 kilograms of rice every three days. If you want more, your digital wallet will show your quota has been used up, and even with more money, you won't be able to buy additional rice. The Digital RMB could also help the Chinese government control people's personal freedom. If only the Digital RMB is accepted, those disliked by the government may find themselves unable to dine out, find accommodations, or travel.