CICC Chief Economist [Peng Wensheng]: You see stablecoins are innovations. he sees sin taxes. CICC Chief Deconstructs the Logic of Stablecoin Harvest | The Global Wealth Trap of the US dollar carefully layout | China's different gameplay | A video t
Stablecoin, a new species that has caused huge waves between the crypto world and real finance, is it the clarion call of the technological revolution or the new clothing of the dollar hegemony? While most people are still discussing code and blockchain, we bring you a truly hardcore economic deconstruction. In this video, we are honored to present in-depth sharing by Mr. Peng Wensheng, chief economist and head of the research department of CICC. After the release of Mr. Peng's report "Economic Analysis of Stablecoins", it aroused huge attention and controversy in the market. He will break out of the purely technical perspective and use the most essential economic principles to peel off the gorgeous coat of stablecoins for you layer by layer and hit its core. In this video, you will get a thorough answer to the following core questions: What is the essence of a stablecoin? It is not a government currency, but a "debt currency" issued by private institutions, and is more like a "narrow bank". Why is it so popular now? Revealing the "zero risk" arbitrage model of the issuer taking advantage of the Federal Reserve's interest rate hike and earning huge interest rate spreads while lying down. This is the fundamental reason for the unlimited supply of stablecoins! Who is using stablecoins? The video will analyze four major sources of demand: crypto asset trading, ambitions for cross-border payments, a gray area of regulatory arbitrage, and currency substitution in high-inflation countries. Are stablecoins the new weapon to consolidate the hegemony of the US dollar? Analyze why the US dollar stablecoin has a natural advantage, but it will also face strong countermeasures from other countries and its own inherent financial vulnerability. Is China really lagging behind? How should we deal with it? Mr. Peng put forward a subversive view: China's Alipay and WeChat Pay have long been "RMB stablecoins" in terms of economic attributes. Our real advantage lies in the huge real economy and e-commerce ecosystem, rather than simply imitating it. About the speaker: Mr. Peng Wensheng, as the chief economist of China's top investment bank, CICC, has been at the forefront of observing China and the global economy for many years. His analysis abandons the vast technical terms and from the perspective of a macro-strategist, from the perspective of a macro-strategist, it provides you with a new framework for viewing the competitive landscape of stablecoins and even the future digital currency from the perspective of currency competition, financial nature and national interests. This is not only a popular science knowledge, but also a feast of ideas related to future wealth and national games. If this in-depth economic analysis is inspiring to you, please don’t forget to support **【Like】 and [Subscribe]**Our channel, turn on the small bell, and get more in-depth content that penetrates the fog and hits the essence as soon as possible. Welcome to leave your thoughts and insights in the comment section and let’s discuss them together!
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