"Sister, what are the other three small goals?" the children asked curiously again. The guide smiled and said, "The third small goal is for our China to become the world's leading economy!"
"Then I know, we have already achieved this small goal!!!" a child said excitedly. "My mom told me that when I was born, China was already the number one country in the world!" a little brat said proudly.
Seeing the children immersed in pride, Boss Huang's lips gradually curved into a smile. This was exactly the scene he wanted to see.
"Sister, what are the remaining two small goals?"
"This fourth small goal is for the whole world to use RMB for settlement!" the guide said.
"Sister, what does it mean to settle in RMB?" The children naturally couldn't understand such words. The guide pondered for a moment and then replied, "To settle in RMB means that in the future, everyone in the world can buy anything with RMB."
"If we take our RMB to any country in the world, we can directly buy any goods!"
"What's the big deal? Isn't this goal very simple? I thought there would be some difficulty!" To their surprise, the children all looked disappointed upon hearing this. Only Boss Huang's expression became very distressed.
In fact, this fourth small goal was the most difficult among all five goals. Heaven knows how much effort he had put in and how many troubles he had gone through to achieve this goal.
Actually, the teacher's analogy was somewhat inappropriate. Settling in RMB did not mean that one could directly use RMB to buy goods in any country in the world. If it were only like this, Boss Huang would have achieved this goal in 2020. The Jiangnan Wallet was present in over 200 countries worldwide, and over 67% of merchants globally would hang a Jiangnan Wallet QR code payment mark at the entrance of their shops.
Furthermore, Jiangnan Group had cooperation with major banks worldwide, providing real-time settlement services with exchange rates provided by various banks.
For example, if one intended to use RMB to purchase an item priced in US dollars, Jiangnan Group would automatically obtain the US dollar to RMB exchange rate provided by the central bank of that country. Then, by cooperating with local banks that offered currency exchange services, Jiangnan Wallet would quickly convert RMB to US dollars and provide it to the consumer for payment. Jiangnan Group would only charge a meager service fee of 0.02%. xxs1
Therefore, when some countries later imposed restrictions, prohibiting local banks from assisting with exchange rate calculations, Jiangnan Group still found a solution. This involved establishing its own financial company in the local area and depositing a certain amount of local currency into the company's account.
Subsequently, when consumers made purchases through Jiangnan Wallet, RMB would enter a Chinese account, while the local company's account would transfer the corresponding local currency. This perfectly resolved various issues.
So, if one used Jiangnan Wallet, it was indeed possible to achieve the goal of purchasing goods in any country with RMB.
However, true settlement in RMB refers to inter-country settlement, a recognized intermediate currency.
For instance, if Country A and Country B are to conduct a transaction, and Country B wants to use its own currency to purchase products from Country A, but Country A does not need Country B's currency. This is because this niche currency, apart from being used to purchase goods within Country B, cannot be used to buy the goods Country A needs in other countries.
In such a situation, an intermediary is needed.
More than 200 years ago, this intermediary was the British pound. All countries in the world, wanting to purchase products from other countries, had to first convert their own currency into British pounds, and then use British pounds to purchase goods from other countries. Other countries were very willing to accept British pounds because it was a currency with very stable value, readily used by any other country in the world. Most importantly, it was backed by the vast fleet of the empire on which the sun never set, and everyone believed that the British pound would continue to be powerful.
As Britain, which held the printing rights for the British pound, became the intermediary for this world currency, the profit margins it could earn from exchange rate differences were imaginable.
However, later, with the decline of the empire on which the sun never set, the absence of that vast naval fleet as a guarantee, and the defeats in two World Wars, the empire on which the sun never set eventually waned, and the new hegemon became the United States.
Thus, the US dollar naturally became the new settlement currency. All countries, before purchasing products from other countries, needed to first convert their domestic currency into US dollars, and then use US dollars to purchase goods from other countries.
Especially with the development of globalization and the internet, the influence of the US dollar on the world became even more profound. Many people in various countries were even unwilling to use their own national currency and would exchange all of it for US dollars in advance. The US dollar held greater and more steadfast credibility in these countries.
Therefore, anyone who has studied this knows that the US dollar is the least credible currency. The Federal Reserve doesn't even bother to pretend anymore. The subsequent crazy printing of money directly snatched vast amounts of wealth from various countries with mere pieces of paper.
At the same time, the United States can also use the US dollar to attack the economy of any country. So, if one wants the RMB to become a settlement currency as well, it is a battle of unimaginable difficulty for Boss Huang.
Moreover, it cannot be said that this battle has been successful to date. Currently, the US dollar remains the global settlement currency. However, through the efforts of some individuals, over 70 countries worldwide are now willing to use RMB as a settlement currency.
This is the first step of success, and there are many new journeys to embark on in the future.
"Sister, what is the last small goal!" the children asked excitedly at the end.
"This last small goal is this!" The guide led all the children into a room that was relatively small compared to the museum, about 100 square meters.
After soothing the children for a while, the guide directly ordered to turn off the lights, and the entire room was plunged into darkness.
But soon, countless lights emerged from all directions. The children were surprised to find that their small room had transformed into a vast city. They were standing on the rooftop of a building in this city, and not far away, two giant robots were facing each other.
"Hello, dear audience! You are now watching the live broadcast of the Jiangnan Homeland Cup, World Homeland Mecha Fighting Competition, exclusively broadcast by Y TV. This is the first round of the preliminaries. It's China's 'Zhurong Generation 3' against Australia's 'Kangaroo Boxer'. This will be a very exciting match!"
[PS: There are only a few chapters left until the end. The remaining energy will be used to prepare for the new book "From Selling Houses to Investing in Space Bubbles." Therefore, there will be only one update per day for the next few days to ensure you can seamlessly transition to the new book!]