Discover the impact of blockchain on the trade relationship between the world’s two largest economies 

China's Trump Card: Cryptocurrency and its Game-Changing Role in Sino-US Trade grapples with the fascinating issue of the effect of digital currencies on world trade and the relationship between China and the United States in particular. Full of forward-looking insights, solid data analysis, extensive collection of relevant literature and incisive observations, author Raymond Yeung compellingly argues that cryptocurrencies will have a significant role to play in harmonizing geopolitical power struggles. 

Covering all the subjects required for a full understanding of the future of the Sino-US trade relationship, China’s Trump Card discusses: 

  • The looming risks of de-dollarization in the wake of de-globalization 
  • The pressing need to construct a new currency standard superior to the fiat money regime in response to the global imbalance.    
  • China's diversification of its offshore portfolios to include alternative investments  
  • The implications of Facebook's plan to create a blockchain-based digital currency 
  • The fact that blockchain offers a fungible asset class option for China's reserves investment, which can be relatively independent of political considerations 

This book is perfect for business leaders, investors, financial analysts, policymakers, economists, fintech developers and others who have a stake in the outcome of the blossoming trade disputes between the United States and China. 

Table of Contents

  1. Cover
  2. Acknowledgments
  3. About the Author
  4. Preface
  5. Chapter 1: An Unconventional Trade Feud
    1. 1.1 Thanos and Trump
    2. 1.2 What Causes the Trade War?
    3. 1.3 The Novelty of This Trade War
    4. 1.4 Economic Impacts and Consequences
    5. 1.5 Trade War and Deglobalization
    6. Annex A: China's Belt and Road Initiative
    7. Annex B: Official Statements from the US and China
    8. Annex C: Major Timeline of the Trade War
    9. Notes
  6. Chapter 2: Trade Imbalances and the Greenback
    1. 2.1 The Missing Link between Trade and Currency
    2. 2.2 Stubbornly Persistent US Trade Deficits
    3. 2.3 Is the Exchange Rate to Blame?
    4. 2.4 Exorbitant Privilege of the Dollar
    5. 2.5 Dollar Recycling and the Global Saving Glut
    6. Notes
  7. Chapter 3: Deglobalization Prompts De-Dollarization
    1. 3.1 Anti-Multilateralism and Anti-Sovereign Movement
    2. 3.2 The Globalization Cycle
    3. 3.3 Currency Globalization
    4. 3.4 Financial Deglobalization
    5. 3.5 End of Cycle: De-Dollarization
    6. Notes
  8. Chapter 4: China–US Financial Decoupling
    1. 4.1 Trade War and the Yuan
    2. 4.2 The Yuan in the Monetary Policy Context
    3. 4.3 Globalizing the RMB in the Deglobalizing World
    4. 4.4 Reserve Diversification10
    5. Notes
  9. Chapter 5: A Race on the Digital Turf
    1. 5.1 Reform and Technology Independence
    2. 5.2 China's Structural Challenges
    3. 5.3 China's Digital Economy
    4. 5.4 The Tech Rush and the Little Chips
    5. Notes
  10. Chapter 6: Cryptocurrency and the People's Money
    1. 6.1 Deglobalization in the Digital Time
    2. 6.2 Bitcoin and Distributed Ledgers
    3. 6.3 Can Cryptocurrency Replace Money?
    4. 6.4 Regulatory Responses
    5. 6.5 Implication on Monetary Policy
    6. Notes
  11. Chapter 7: Foreign Reserves Go Digital
    1. 7.1 From Zhou to Carney
    2. 7.2 Reserve Currency Based on Liquidity
    3. 7.3 The Potential Role of Cryptocurrency in Global Reserving
    4. 7.4 Implication of the Libra Project
    5. Notes
  12. Chapter 8: The Endgame
    1. 8.1 The Trade War as the Perfect Shock
    2. 8.2 Libra or RMB, Which Is the Designated One?
    3. 8.3 What Can China Do?
    4. Note
  13. Bibliography
  14. Index
  15. End User License Agreement