美国逼全球接盘美债，中国却拿稳定币反打美元！胜负已初现

Group 1 - The global economic landscape is undergoing a profound transformation, with the competition between China and the United States in the stablecoin sector representing a struggle for dominance in the future international monetary system [2] - Stablecoins, which are cryptocurrencies pegged to fiat currencies or specific assets, are becoming a new battleground for both countries, reflecting their differing strategic intentions [2] - The U.S. government aims to expand the potential buyer base for U.S. Treasury bonds by issuing stablecoins, thereby reducing reliance on foreign central banks [5] Group 2 - The U.S. Senate passed the GENIUS Act, which mandates that for every dollar stablecoin issued, an equivalent value of U.S. Treasury bonds must be purchased, potentially injecting $2 trillion into the Treasury market if the stablecoin market reaches $2 trillion [5] - China's central bank is actively promoting the internationalization of the digital yuan to gain a foothold in the stablecoin arena, viewing stablecoins as a tool for enhancing national monetary power [7] - Hong Kong has been designated as a testing ground for the digital yuan, with the passage of the Stablecoin Ordinance, positioning it as a "stablecoin regulatory special zone" [9] Group 3 - The value of currencies, including the U.S. dollar and the Chinese yuan, ultimately depends on credit backing, with recent surges in Bitcoin prices reflecting a loss of confidence in the dollar [10] - China's strategy for developing stablecoins is not solely focused on addressing fiscal challenges but aims to establish a new global monetary order [11] - The competition between U.S. and Chinese stablecoins signifies a significant shift in the global monetary landscape, leading to the emergence of a more diversified international monetary system [11]