Ha, well, "sure" was a poor choice of word I agree. In general, I am not too sure about China which is why I don't bet money on them. Their leadership and direction seem relatively stable until it is not.
And by what is the︂ offshore Reminbi backed? It is backed by the same assets (foreign exchange reserves, gold reserves,︃ and other financial assets held by the People's Bank of China (PBOC)) so essentially it︄ is the same currency. This is also why the word Renminbi is used for both︅ currencies in the column I posted.
I am sure you know a lot more about︆ China than I do, but China does not currently have a major reserve currency threatening︇ the US dollar, JPY, or even the Euro, nor does it look like it will︈ have one over the foreseeable future.
The new bill the UAE has proposed today is what I hope, and think, but mainly hope, will be what will threaten the USD,︉ EUR, JPY, and CHF. Creating a decentralized free zone with 100% tax exemptions with bank︊ accounts not unlike Blackcatcard where you can simply deposit/accept payment in crypto from sanctioned people.︋
This would allow you to do business with people all across the world at very︌ little cost and avoid predatory foreign exchange fees by middlemen, a true win for open︍ business. It would also insulate everyone in the zone from sanctions as crypto is not︎ controlled by anyone. One can only dream...
