Core Viewpoint - The aspiration for a single global currency based solely on the Renminbi (RMB) is seen as both a positive dream and a misguided notion, reflecting a one-polar order mentality that could lead to extreme outcomes [2] Group 1: Digital Currency and Sovereignty - The idea that digital RMB could replace the US dollar is considered a fundamental error, as the transition would not occur through digital RMB [3] - Digital RMB is tied to the RMB, which is a sovereign currency, while US dollar stablecoins are linked to the dollar but are not sovereign currencies [5] - The assertion that government-backed digital RMB has higher international credit than privately issued dollar stablecoins is challenged, as both currencies rely on government credit [6] Group 2: Stability and Future Trends - Dollar stablecoins serve as a digital tool for cross-border payments, maintaining a 100% asset reserve as mandated by the Federal Reserve, thus avoiding liquidity risks [7] - The future trend favors decentralization, with US dollar stablecoins currently dominating the cross-border payment market at 99% [8] - For RMB to effectively replace the dollar, it would require three key pillars: free convertibility, decentralization, and 100% gold reserves [10] Group 3: Currency Exchange Rate Insights - Predictions regarding the RMB exchange rate, such as whether it will break 7 against the dollar, are uncertain, with two underlying trends noted: China does not emphasize RMB appreciation due to export pressures, and the long-term trend has been depreciation since 1978 [11]