Could China?s Cryptocurrency Challenge the Dollar"
"To be sure, the dollar?s indefinite dominance is not a foregone conclusion, but the yuan will have to be far more than just digital to give the greenback a run for its money, literally."
The post Could China?s Cryptocurrency Challenge the Dollar" appeared first on LUXUO.
Photo by Eric Prouzet on Unsplash
The croupier chuffed at the thick stack of red 100-yuan bills with Mao Zedong?s slightly smiling face staring back up at him.
Without even looking up from arranging his chips, he pushed aside the wad of Chinese yuan notes (worth several tens of thousands of U.S. dollars) and in heavily accented-Laotian English grunted,
?No yuan, dollars only.?
Pointing to a sign written in simplified Chinese script hanging on the wall that stated the casino only accepted Japanese yen, euros and U.S. dollars.
The irate Chinese gambler protested in Mandarin,
?What are you talking about" This is a Chinese casino, paid for with Chinese money, why can?t I gamble with yuan"?
To which the Laotian croupier simply blinked back blankly.
The Chinese gambler?s female companion held him back from carrying on, lest casino security should see to a premature end to the evening?s entertainment, and she should fail to receive her fat tip for her services ? unlike the casino, yuan was just as good as dollars for her.
In many parts of the world, the lack of full convertibility of the Chinese yuan, or renminbi, as it?s offic...
The post Could China?s Cryptocurrency Challenge the Dollar" appeared first on LUXUO.
Photo by Eric Prouzet on Unsplash
The croupier chuffed at the thick stack of red 100-yuan bills with Mao Zedong?s slightly smiling face staring back up at him.
Without even looking up from arranging his chips, he pushed aside the wad of Chinese yuan notes (worth several tens of thousands of U.S. dollars) and in heavily accented-Laotian English grunted,
?No yuan, dollars only.?
Pointing to a sign written in simplified Chinese script hanging on the wall that stated the casino only accepted Japanese yen, euros and U.S. dollars.
The irate Chinese gambler protested in Mandarin,
?What are you talking about" This is a Chinese casino, paid for with Chinese money, why can?t I gamble with yuan"?
To which the Laotian croupier simply blinked back blankly.
The Chinese gambler?s female companion held him back from carrying on, lest casino security should see to a premature end to the evening?s entertainment, and she should fail to receive her fat tip for her services ? unlike the casino, yuan was just as good as dollars for her.
In many parts of the world, the lack of full convertibility of the Chinese yuan, or renminbi, as it?s offic...
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