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23 sats \ 6 replies \ @Undisciplined 29 Nov \ on: China central bank vows crackdown on virtual currency, flags stablecoin concerns econ
Chinese friends of mine have told me that the government doesn't really care that some people get around the various technology bans as long as most are afraid to try.
Those some people are often parts of the CCP apparatus. The government would turn a blind eye initially but will use this if there is a purge necessary.
Regardless, a good thing as Chinese capital control prevents their own people from acquiring bitcoins and keeps them perpetually behind.
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China is beating the west in most areas of economic and technological development.
It is naive to assert that the Chinese mixed model economy is inferior to the wests crony capital model where governments have become subservient to wealthy corporate banking lobbies.
Australia’s Strategic Policy Institute, a think tank, believes China has overtaken America in cutting-edge research in 57 out of 64 technology areas it tracks.
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Another wumao scum đŸ¤£
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Are you suggesting I am a Wumao?
Seriously?
The degree of arrogance some westerners have with regard to denying Chinas demonstrable economic performance is scary...and imo dangerous.
If I was a CCP bot I would not be raising these challenges the west faces regarding Chinas economic rise....I would be downplaying/dismissing them as you seem to do.
To dismiss/ignore Chinas demonstrable economic success and current trajectory is to ignore a very serious challenge to the west and its centuries of global domination. It is exactly the sort of arrogance and ignorance that has resulted in China now holding a near monopoly over the supply of rare earths.
This article might help you see things in a more balanced and informed manner...
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Yeah, you're right. They just want to remain in control by only showing that they can.
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Just as most western governments and the fiat bankers who direct them don't care if a few people use Bitcoin for MoE as long as most don't.
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