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China Vs. USA – The digital yuan exacerbates tensions between economies

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The current battle between the world’s two largest economies has intensified recently. Following the official declaration of the digital yuan, China is facing several media attacks by the USA. Chinese State Department officials responded to US senators who expressed their opposition to the use of the new digital Chinese currency at the 2022 Beijing Winter Olympics.

The atmosphere is escalating

It seems that tensions between the two countries will escalate until the start of the Olympic Games. The last press conference of the Chinese Ministry of Foreign Affairs slightly revealed the cards. Ministry spokesman Zhao Liani commented on a letter received by the US Olympic Committee from US senators. They fear the use of the digital yuan as a tracking device.

“We call on US officials to adhere to the spirit set out in the Olympic Charter and to stop making sport a political issue. We are also asking them to stop making our digital currency a problem. ”

According to Chinese officials, ignorance does not excuse American senators, who should first find out what the digital currency really is.

The pressure came from the USA

Senators Marsha Blackburn, Roger Wicker and Cynthia Lummis wrote an open letter to Susanne Lyons, Chair of the Olympic and Paralympic Committee of the United States. The main goal of the letter was to draw attention to the digital yuan, which is said to lead to tracking and tracing by the People’s Bank of China. According to senators, it is therefore necessary to prevent American athletes from using the Chinese digital currency.

The senators insist on their allegations, stating that American athletes can be monitored in this way even after returning to the United States. According to them, the digital yuan is so consistent that it can track accurate data of movement, and even purchases in the store.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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