China: dual circulation and AI
Every transaction, every asset, that is denominated in a particular currency, has an impact on the nation issuing that currency. It’s all part of the same economy. But what if the same country issues more than one currency? This is probably a closer approximation to the Chinese situation: one currency for use at home; another one for use abroad. Two circulations. Does this mean there are two Chinese economies? Not quite: there is only one issuer. Questions around the solvency