Money looks to be an insidious but strategic tool. Its battle to control this asset is absolutely strategical. Keynes already thought that money was a strategic tool in the market. He also wanted to create the international monetary fund, after the Second World War, to prevent the United States to implement the dollar as the money of reference. However his project didn’t work.
Today there is a new strategic fight between the United States and China concerning the implementation of the money of reference. To many extend China has the ability to destroy the dollar as the money of reference. The creation of the crypto yuan, which has been tested in many provinces, is an important evolution in the history of the economic system. It can deeply change the banking system, and also the existence of banks the traditional way. The Chinese communist officials looked to learn some lessons from Marx : for this thinker science was the first measure of progress and motor of history. The Chinese strategy is to put science as strategic tool of its economical development. It can be seen in Xi Jinping speeches that target to give to China to become the global leader in scientific innovation. It can be seen in the 5G, the new space rivalry, the development of submarines. Focusing on strategic tools is an important aspect of the Chinese rivalry with the United States. This approaches can be seen in money.
The Chinese official don’t believe at all in the strength of the bitcoin. This money has been thought by the libertarians. The Chinese communist party looks to focus on the control of the state to some extend. However the new directions taken by Xi Jinping, who wants to aim at a real orthodox communist state, look to counter the real aspirations of the Chinese people, which is leaning more to a nationalist revenge on history. That is the reason why it can be said that this control of money looks to be a revenge to the control the western world had on China during the XIXth century. That is the reason why China has the ability, in the long run, to take this revenge. This great civilization learnt from the mistakes of the past ; today it is embracing scientific progress, looks to be purely positivist and counts on its scientific advance to give new implications to money. Moreover, the new ability given to underdeveloped countries to use a more functional money will give a real prestige to China and the yuan.
This battle for money looks to be between the United States and China. I don’t think it is sane and sounded to compare in any way those two countries. Any democrat in the world should support without any reserve the United States in this contest. However it looks important to inspire from China, its ability to think new ways of envisaging money thanks to the technologies. Its strategy of soft power is very seducing also, and to this extend dangerous to the western world. The Chinese government exploits very smartly the legitimate resentment against the Western world caused by slavery, colonization, exploitations in many forms… That is the reason why China is very popular in Africa and in South America, and concluded strategic partnership with Argentina for instance to expand the power of the yuan.
The contest for global supremacy is more and more acute. And the competition is today open. The Chinese officials studied very well Marx, but as well Kant who wrote that “the economy is the first measure of power”. The ability of China to think strategically is a brilliant approach. It is possible to say that the rivalry between China and the Western world will have considerable impacts in the future, as it was the case in the XVIth and XVIIth century between the catholic and protestant countries. That is the reason why this battlefield for the supremacy of money is a discreet but detrimental symptom of a new, worrying but also really interesting rivalry which is put in place.
The observer 