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Shift Balance of Centralized Banking System — Saving Democracy from Populism

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  • Pachankis, Yang

Abstract

The article analyzes the realpolitik strategic offensive behavior of PRC’s centralized banking after joining the GATT and WTO. With the Bretton Woods and issuance of USD anchored to gold, the PRC State-owned Assets Supervision and Administration (SASAC) of the import-export control regime enabled the “double-circulation” operations of the RMB and offshore RMB, with quantitative restriction distributed to the commercial banking in private dealership in currency exchanges and banning on bona fide private dealership. The gold and oil hedging on the free market further enabled the Chinese central bank’s “monetary conduction mechanism” in issuing money according to USD for strategic offense with the currency price market. With Brexit and Trade War, PRC currently has blocked almost all international settlement channels in the controlled market in maintaining offshore RMB value evaluations. With the background of cryptocurrency and PRC’s approach in digitization of economic control, the article analyzes possible resolutions for economic justice.

Suggested Citation

  • Pachankis, Yang, 2022. "Shift Balance of Centralized Banking System — Saving Democracy from Populism," MPRA Paper 115606, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:115606
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    File URL: https://mpra.ub.uni-muenchen.de/115606/1/MPRA_paper_115606.pdf
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    File URL: https://mpra.ub.uni-muenchen.de/116833/1/MPRA_paper_116833.pdf
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    References listed on IDEAS

    as
    1. Pachankis, Yang, 2023. "Shift Balance of Centralized Banking System-Saving Democracy from Populism," Journal of Internet Banking and Commerce, , vol. 28(02), pages 01-10, March.
    2. Jon Baldwin, 2018. "In digital we trust: Bitcoin discourse, digital currencies, and decentralized network fetishism," Palgrave Communications, Palgrave Macmillan, vol. 4(1), pages 1-10, December.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Pachankis, Yang, 2023. "Shift Balance of Centralized Banking System-Saving Democracy from Populism," Journal of Internet Banking and Commerce, , vol. 28(02), pages 01-10, March.
    2. Pachankis, Yang, 2022. "Assessment of Space Junks — Organizational Origins, Current Status, and Economic Impacts," MPRA Paper 115688, University Library of Munich, Germany.

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    More about this item

    Keywords

    digitization; cryptocurrency; price market; security risks; offshore RMB; compartmentalization; IMF; trade deficit;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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