Trump said today: "We absolutely do not want to see China take control of the cryptocurrency sector, nor do we want China to gain an advantage in the field of artificial intelligence—that is, in these two major areas: artificial intelligence and cryptocurrency.
Cryptocurrency is of great significance. I can see more and more people using Bitcoin for payments, with many almost no longer using cash. This will greatly reduce the pressure on the US dollar, which is beneficial for our country.
But China is determined to dominate the cryptocurrency industry and is also extremely eager to achieve a leading position in artificial intelligence. Therefore, we must stay ahead of China in the field of artificial intelligence. Previously, no one believed this could be achieved."
Commentary: The reason Trump made these remarks is to monopolize leadership in both the artificial intelligence and digital finance sectors. On one hand, the United States intends to loosen regulations and support cryptocurrency development in order to reinforce the dominance of the US dollar in finance; on the other hand, it fears that China's continued advancement in AI and its development of digital currencies may challenge American hegemony. However, the objective reality is that China has consistently prohibited speculative trading of cryptocurrencies like Bitcoin within its borders, classifying such activities as illegal financial operations, in order to prevent financial fraud and money laundering risks. China’s focus lies in developing and promoting a centrally regulated central bank digital currency—digital RMB—which is fundamentally different from decentralized cryptocurrencies. By conflating these two concepts and exaggerating competitive threats, Trump is essentially creating public justification for supporting domestic industries and justifying technological restrictions against China.
Original source: toutiao.com/article/1872869280855305/
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