What should be of equal interest is the ways China may be learning from the West.
The next arm weapon the CCP may plan to wield against its citizens is a War on Cash.
As Joseph Salerno, among others, has noted for years now, a successful War on Cash would represent a new escalation in government's long history of weaponizing currency against the population.
Moving far beyond the clipping of coins as a means of stealth tax collection, the purpose of a War on Cash is not simply to strengthen a government's grasp on the wealth of its citizens - but the move becomes a highly effective means of tracking any who find themselves in the crosshairs of the state.
What's just as important for China is to help further tighten the CCP's grip on its struggling economy.
As I've noted before, lost in the attention paid to Trump's trade war with China, China's financial system is showing signs of a growing strain.
At this point, the CCP successfully waging a War on Cash is mere speculation - though a recent move to allow tourists access to digital payment systems such as AliPay might help pave the way for that transition.
https://mises.org/wire/globalist-endorsed-war-cash-may-be-chinas-next-terrifying-weapon
The next arm weapon the CCP may plan to wield against its citizens is a War on Cash.
As Joseph Salerno, among others, has noted for years now, a successful War on Cash would represent a new escalation in government's long history of weaponizing currency against the population.
Moving far beyond the clipping of coins as a means of stealth tax collection, the purpose of a War on Cash is not simply to strengthen a government's grasp on the wealth of its citizens - but the move becomes a highly effective means of tracking any who find themselves in the crosshairs of the state.
What's just as important for China is to help further tighten the CCP's grip on its struggling economy.
As I've noted before, lost in the attention paid to Trump's trade war with China, China's financial system is showing signs of a growing strain.
At this point, the CCP successfully waging a War on Cash is mere speculation - though a recent move to allow tourists access to digital payment systems such as AliPay might help pave the way for that transition.
https://mises.org/wire/globalist-endorsed-war-cash-may-be-chinas-next-terrifying-weapon
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