‘Trojan Horse’: Kyle Bass Warns China Will Use Digital Yuan to Export Tech Authoritarianism
The Chinese regime is using its new state-controlled digital currency as a Trojan horse against western democracies and the free world needs to outlaw it, warned hedge fund manager Kyle Bass.
“I think that the digital RMB [renminbi] is the largest threat to the world as it exists today,” Bass said in an interview with The Epoch Times’ affiliate NTD on April 8. Bass is the founder and chief investment officer of Dallas-based Hayman Capital Management.
On Thursday, China’s hawkish state-run outlet Global Times proudly proclaimed that Beijing has taken the lead in the race between governments to roll out their own sovereign digital currency, given its work on “relevant standards and legal framework.” The article boasted that the digital yuan (also known as renminbi) will help challenge “U.S. dollar hegemony.”
Quad plus and beyond: Blue print for operationalisation – Part 2
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El autoritarismo digital (y sus alternativas)
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Uniting against authoritarianism: a blueprint for the Quad
Scott Morrison with his Japanese counterpart Yoshihide Suga (Kiyoshi Ota/Pool Photo via AP)
Following the changing of the guard in the White House, a re-energised Quadrilateral Security Dialogue (Quad) linking the US, Japan, India and Australia needs to prepare itself to face serious global tensions in this year and beyond.
The Quad will have to deal with the erosion of liberal democratic values under pressure from authoritarian priorities as an ascendant China, supported by Russia, seeks to alter the fabric of the established world. Multilateral institutions such as the World Health Organization, United Nations and World Trade Organization now find themselves as ‘contested space’.