Shift Balance of Centralized Banking System — Saving Democracy from Populism

Yang Pachankis

MPRA Paper from University Library of Munich, Germany

Abstract: The article analyzes the realpolitik strategic offensive behavior of PRC’s centralized banking after joining the GATT and WTO. With the Bretton Woods and issuance of USD anchored to gold, the PRC State-owned Assets Supervision and Administration (SASAC) of the import-export control regime enabled the “double-circulation” operations of the RMB and offshore RMB, with quantitative restriction distributed to the commercial banking in private dealership in currency exchanges and banning on bona fide private dealership. The gold and oil hedging on the free market further enabled the Chinese central bank’s “monetary conduction mechanism” in issuing money according to USD for strategic offense with the currency price market. With Brexit and Trade War, PRC currently has blocked almost all international settlement channels in the controlled market in maintaining offshore RMB value evaluations. With the background of cryptocurrency and PRC’s approach in digitization of economic control, the article analyzes possible resolutions for economic justice.

Keywords: digitization; cryptocurrency; price market; security risks; offshore RMB; compartmentalization; IMF; trade deficit (search for similar items in EconPapers)
JEL-codes: C72 C73 C92 E31 E32 E51 E58 O31 O33 P51 (search for similar items in EconPapers)
Date: 2022-10-20
New Economics Papers: this item is included in nep-mon
References: View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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https://mpra.ub.uni-muenchen.de/116833/1/MPRA_paper_116833.pdf revised version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:115606

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