Still open: waiting on events (After the US-China grand bargain).
P319
US stablecoin companies will gain access to Chinese consumers and sell them dollar-backed stablecoins.
What Jiang said
“they can sell digital currency to Chinese consumers”
Analysis
He argues stablecoins will let Chinese savers effectively buy dollar assets despite China's closed capital account. He sees this as the core mechanism for transferring US debt exposure to Chinese households.
Status history
- 2026-05-26 · Pending (codex)