{"id":43517,"date":"2021-06-01T09:41:52","date_gmt":"2021-06-01T06:41:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=43517"},"modified":"2025-08-31T12:46:24","modified_gmt":"2025-08-31T09:46:24","slug":"ray-dalio-the-digital-yuan-will-be-more-competitive-than-the-digital-dollar","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ray-dalio-the-digital-yuan-will-be-more-competitive-than-the-digital-dollar\/","title":{"rendered":"Ray Dalio: the digital yuan will be more competitive than the digital dollar"},"content":{"rendered":"

The digital dollar could become a viable currency, but the digital yuan would be more competitive on price and yield. This was stated by Ray Dalio, founder of Bridgewater Associates, according to The Block<\/a>.<\/p>\n

<\/p>\n

According to him, the problem with the American CBDC<\/a> lies in the country’s rising national debt. The digital form of the Chinese yuan, by contrast, would become a \u201cvery viable alternative\u201d for many investors if adopted globally, says the founder of Bridgewater Associates.<\/p>\n

Dalio noted that the digital yuan will compete with Bitcoin, an ‘alternative currency’. But DCEP<\/span> will not fully capture the cryptocurrency market, he added.<\/p>\n

The billionaire also allowed that the Chinese yuan could be used more often in trade and financial transactions. He said the national currency of the PRC would become a reserve currency sooner than expected.<\/p>\n

\n

\u201cI think this will gradually happen faster than most people expect. Much of it is not only about what China does, but what the dollar does,\u201d Dalio said.<\/em><\/p>\n<\/blockquote>\n

According to IMF data, the dollar is currently the world’s largest reserve currency with a share of nearly 60%. The yuan’s share stands at around 2%, behind the euro, the Japanese yen and the British pound.<\/p>\n

Dalio did not rule out that the share of the Chinese currency could rise to around 10-15% in five to ten years.<\/p>\n

\\\"Ray
Source: IMF.<\/figcaption><\/figure>\n

Earlier, former head of the People’s Bank of China Zhou Xiaochuan said that the national digital currency is not intended to replace<\/a> widely recognised fiat money\u2014the dollar and the euro.<\/p>\n

Since 2020, authorities in several Chinese cities conducted<\/a> several experiments with the distribution of DCEP among the population.<\/p>\n

In February 2021, a branch of the Agricultural Bank of China in the \u201cmegacity of the future,\u201d Xiong’an in Hebei province developed a hardware wallet<\/a> for the digital yuan.<\/p>\n

In May, it became known that online bank MyBank would allow some customers to perform DCEP operations<\/a> in the Alipay app. In the same month, Hong Kong authorities announced the expansion of the testing programme for the asset<\/a>.<\/p>\n

The chairman of the United States Federal Reserve System Fed<\/span> Jerome Powell stated the possibility of issuing a CBDC<\/a> and reminded that what matters is to do it right rather than competing with other countries.<\/p>\n

Later, member of the Board of Governors Lael Brainard called the United States’ involvement in setting the asset’s standards “vital” <\/a> in order to “play a leading role in cross-border payments and to occupy a position as a reserve currency”.<\/p>\n

Summer 2021, the Fed will publish a discussion paper that would supplement the previously initiated research into the feasibility of creating a digital dollar <\/a>.<\/p>\n

Follow ForkLog news on VK!<\/p>\n","protected":false},"excerpt":{"rendered":"

The digital dollar could become a viable currency, but the digital yuan would be more competitive on price and yield, Ray Dalio, founder of Bridgewater Associates, told The Block.<\/p>\n","protected":false},"author":1,"featured_media":43518,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,133,1138,1732,26],"class_list":["post-43517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-china","tag-opinions","tag-ray-dalio","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=43517"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43517\/revisions"}],"predecessor-version":[{"id":43519,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43517\/revisions\/43519"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/43518"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=43517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=43517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=43517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}