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Why China’s digital yuan is ‘largest threat to the West’ in past 30 or 40 years, according to Kyle Bass
Mark DeCambre
‘It’s because it allows China to actually get their claws into everyone in the West and allows them to potentially export their digital authoritarianism,’ Bass says
Kyle Bass, chief investment officer of Hayman Capital Management, says that the biggest threat to the West is the advent of the digital yuan, which he has described as a Trojan Horse that could undermine developed Western countries.
“I think China can force the adoption of their digital currency for trade and investment in China per se, unless the U.S. and the West outlaws it or basically disallows it,” Bass told CNBC during an interview Tuesday afternoon.
“And I believe the digital yuan is the largest threat to the West that we’ve faced in the last 30-40 years, and it’s because it allows China to actually get their claws into everyone in the West and allows them to potentially export their digital authoritarianism,” Bass said.
Of course, not everyone agrees with Bass.
China has said that the digital yuan isn’t an effort to displace the U.S. dollar DXY, +0.06% as the reserve currency of the world…..More Here
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