China's Digital RMB: Strong Momentum in Energy Transactions?

In this video, I dive into the growing momentum of China's Digital RMB & its potential impact on energy transactions. Recently, China made headlines with its first-ever oil transaction using Digital RMB, signaling a significant step forward in the implementation of this groundbreaking digital currency. According to the country's central bank governor Yi Gang, transactions utilizing China's digital Yuan reached a staggering 1.8 trillion yuan ($249.33 billion) by the end of June. This remarkable increase from just over 100 billion yuan in August last year solidifies China's role as a frontrunner in developing central bank digital currencies (CBDCs) globally. While adoption is still in its early stages, the e-CNY, as the digital yuan is referred to, has predominantly been utilized for domestic retail payments.
The rise of China's Digital RMB cannot be underestimated, particularly in a world where countries are increasingly seeking alternatives to circumvent the US's frequent use of sanctions. As China's implementation of digital currency accelerates, it is progressively energizing global transactions. The continued growth & utilization of the Digital RMB may potentially reshape the dynamics of energy transactions globally.
Join me as I explore the driving forces behind China's Digital RMB and its implications for global energy transactions. Stay informed & gain valuable insights into the changing landscape of international currencies. Don't miss out on this crucial discussion!
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Link to articles:
https://news.cnstock.com/news,bwkx-20...
https://www.ledgerinsights.com/cbdc/
https://journals.sagepub.com/doi/full...
https://www.reuters.com/markets/asia/...
https://www.fpri.org/article/2023/06/...
https://www.msn.com/en-us/money/compa...
https://www.technologyreview.com/2023...
https://www.ledgerinsights.com/brics-...

About David:
Dr. Oualaalou served a fifteen-year career in the United States Armed Forces in support of the US government’s security agencies in Washington DC and around the world. His primary roles include security policy, intelligence analysis, security operations advice including leadership and managerial operations. He advised high-profile U.S. military and civilian officials on security issues, economic trends, and foreign military threat information. He has written many articles and books including his latest, The Dynamics of Russia’
https://www.timesofisrael.com/us-veto... Geopolitics: Remaking the Global Order.

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