Kyle Bass, founder and chief investment officer of Hayman Capital Management and a founding member of the Committee on the Present Danger: China.
THOUGHT LEADERS
China’s Digital Yuan and Global Supremacy Goal China, Russia forming axis of authoritarianism against the West, says expert Kyle Bass
I
t’s clear to me that China is the biggest threat to the West and the United States,” says Kyle Bass. “China’s goal is global supremacy.”
52 I N S I G H T May 13–19, 2022
year ago, we talked about the Chinese digital yuan and the threat that poses. You described it as an existential threat. It’s basically the social credit system on steroids impacting many other countries. So now with this Russia–Ukraine war happening, we see the digital yuan accelerating in use. KYLE BASS: In the Beijing
Olympics this year, the Chinese Communist Party forced the participants to download the e-yuan app and to use it as their payment system while in Beijing. That, of course, begins the forcible use of the e-yuan. They want to lessen their dependence on the U.S.
dollar. About 87 percent of global transactions that China settles are in dollars. They’re desperately short of energy, food, and basic materials. They have to buy these things every day around the world, and no one trusts their currency, and they still have a closed capital account. They have to use their dollars. So they’re trying to lessen their reliance on dollars. They’re also exporting the Chinese tech stack all over the world. This is an app that tracks where you are, your name, your Social Security number: all of your identifiers. They’re exporting digital authoritarianism. And it’s being overshadowed by the Russian invasion
of Ukraine. How many articles have you seen on the e-yuan in the past three months? Almost none. MR . JEKIELEK: The Chi-
nese regime is aligning with Russia. Maybe you can tell us about that. MR . BASS: On Feb. 4, Chi-
nese leader Xi Jinping and Russian President Vladimir Putin issued a press release on their new strategic partnership. No areas of cooperation are “off limits,” which, of course, means hypersonics, nuclear, all of the good and bad things they could be working on together. They’re basically forming an axis of authoritarianism between China, Russia, and the rest of the bad guys
YORK DU/THE EPOCH TIMES
In this recent episode of “American Thought Leaders,” host Jan Jekielek met with Kyle Bass to discuss the effectiveness of sanctions in the war in Ukraine, the “axis of authoritarianism,” the housing crisis in China, and that country’s ongoing secret war on the United States. Bass is the founder and chief investment officer of Hayman Capital Management and a founding member of the Committee on the Present Danger: China.
JAN JEKIELEK: About a
