Evidence receipt / prediction
Published · transcript-backedPierpaolo Barbieri: prediction
19 May 2021 Conversations with Tyler Pierpaolo Barbieri on Latin American FinTech
“In theory, yes, but you could potentially see a scenario where there’s a divergence in price. It’s not necessarily my base case, but I think what they’re trying to do — and this is less important for the US dollar because it’s freely convertible — is the ability to decide who you open with and how you open, and meanwhile push an alternative way to denominate international trade that is not dollar dependent.”
Source trail
Everything needed to verify it.
- Speaker
- Pierpaolo Barbieri
- Attribution
- Verified speaker
- Claim type
- prediction
- Recorded
- 19 May 2021
- Publisher
- Conversations with Tyler
Transcript context
…The digital yuan and the internal yuan in China — do they trade at a one-to-one rate, or they’re in essence different currencies? In theory, yes, but you could potentially see a scenario where there’s a divergence in price. It’s not necessarily my base case, but I think what they’re trying to do — and this is less important for the US dollar because it’s freely convertible — is the ability to decide who you open with and how you open, and meanwhile push an alternative way to denominate international trade that is not dollar dependent. I think that’s the real optionality that they’re gaining. Given the failures of Chinese soft power, and that China more and more seems to have global preferences over what happens, why would other countries trust the Chinese digital architecture more than, say, SWIFT? Aren’t they just trading in one master for another, and ultimately they prefer the devil they know, which is the United States?…
Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.