Lanli|蓝犁道人
Lanli|蓝犁道人|Mar 30, 2025 21:43
On March 17, 2025, the People's Bank of China suddenly announced that the cross-border settlement system of the digital RMB (Renminbi, Chinese Yuan) will be fully connected to the ten ASEAN countries and six Middle East countries, which means that 38% of the global trade volume will bypass the dollar dominated SWIFT system and directly enter the "moment of digital RMB". This financial game, referred to by The Economist as the "Bretton Woods System 2.0 Outpost," is using blockchain technology to rewrite the underlying code of the global economy. While the SWIFT system is still struggling with a 3-5 day delay in cross-border payments, the digital currency bridge developed in China has already compressed the clearing speed to 7 seconds. In the first test in Hong Kong and Abu Dhabi, a company made payment to a Middle Eastern supplier through digital RMB. Funds no longer go through six intermediary banks, but are received in real-time through distributed ledgers, resulting in a 98% reduction in transaction fees. This' lightning payment 'capability instantly makes the traditional clearing system dominated by US dollars appear clumsy. What scares the West even more is the technological moat of China's digital currency. The blockchain technology used in digital RMB not only makes transactions traceable, but also automatically enforces anti money laundering rules. In the China Indonesia "Two Country Dual Park" project, Industrial Bank used digital RMB to complete the first cross-border payment, taking only 8 seconds from order confirmation to fund receipt, which is 100 times more efficient than traditional methods. This technological advantage has enabled 23 central banks around the world to actively participate in digital currency bridge testing, with settlement costs for Middle Eastern energy traders reduced by 75%. The profound impact of this technological revolution lies in the reconstruction of financial sovereignty. When the United States attempted to use SWIFT to sanction Iran, China had already established a closed loop for RMB payments in Southeast Asia. Data shows that the cross-border RMB settlement volume of ASEAN countries will exceed 5.8 trillion yuan in 2024, an increase of 120% compared to 2021. Six countries including Malaysia and Singapore have included the renminbi in their foreign exchange reserves, while Thailand has completed its first digital renminbi oil settlement. This wave of "de dollarization" has shocked the Bank for International Settlements: "China is defining the rules of the game in the digital currency era But what truly shocked the world was China's strategic layout. Digital RMB is not only a payment tool, but also a technical carrier of the "the Belt and Road" strategy. In China Laos Railway, Ya'an Wanzhou High speed Railway and other projects, digital RMB is deeply integrated with Beidou Navigation and quantum communication to build a "digital silk road". When European car companies use digital yuan to settle freight through Arctic routes, China is using blockchain technology to increase trade efficiency by 400%. This combination of virtual and real strategies has made the US dollar hegemony feel a systemic threat for the first time. Currently, 87% of countries worldwide have completed the adaptation of the digital RMB system, with cross-border payments exceeding $1.2 trillion. While the United States is still debating whether digital currencies threaten the status of the US dollar, China has quietly built a digital payment network covering 200 countries. This silent financial revolution not only concerns monetary sovereignty, but also determines who can control the lifeline of the future global economy!
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