Part 4 How many poles in a multipolar world?
I think there will be two poles in a multipolar world based on two spheres of influence – the Chinese and American spheres. That is putting it in old fashioned nationalist terms. Another way it is being framed by America is freedom/democracy vs autocracy. China will frame it differently as wealth distribution vs wealth inequality. That is a good debate to have and the two super powers competing can benefit many people just like it did in the last cold war.
More than two reserve currencies will be too confusing.
Both super powers are likely to offer a modern digital CBDC, maybe backed by Gold or Bitcoin. This will make their reserve currency more appealing to countries in their sphere of influence.
Some subjects are too complex for our short attention spans, so we do 4 posts one week apart, each one short enough not to lose your attention but in aggregate doing justice to the complexity of the subject. Stay tuned by subscribing.
Daily Fintech’s original insight is made available to you for US$143 a year (which equates to $2.75 per week). $2.75 buys you a coffee (maybe), or the cost of a week’s subscription to the global Fintech blog – caffeine for the mind that could be worth $ millions.
Bitcoin CBDC cny Default/Ignore Digital Gold el salvador eur Gold reserve currency usd