Yuan

China's new digital currency looks like its paper money. A mobile phone app developed for the People's Bank of China allows users to spend it like cash. The central bank digital currency (CBDC) could be used for international trade, and likely won't be linked to the global financial system.

The real story of digitalization of the yuan is not what it will do to further currency internationalization but what it says about a rapacious party-state demanding complete control internally.

It comes after the value of the cryptocurrency plummeted by 20 percent in the first week of January.

The cryptocurrency is on course for its worst-performing day in a year.

From hotels to agrochemicals, there has been a huge wave of Chinese direct investment in both the United States and Europe.

This is the second time this week that shares have fallen, amid growing investor concern for China.

The approval is a win for Beijing's campaign for recognition as a global economic power.

The last time energy was this cheap, Eisenhower was president.

Making the internationalization of the yuan the centerpiece of economic policy is pure insanity.

Yes, growth is slowing, but Beijing is on a more sustainable path.

However, analysts don't believe another financial crash is around the corner.

"Calling it a market disaster is not an overstatement," one analyst said.

The Yuan float is a sham. Until China frees its currency, its economy and its people, the market cannot work.

Beijing intervened to stabilize the yuan before the end of trading on Wednesday.

A decade ago, China's currency was very lightly traded abroad. Now it is one of the five most heavily traded in the world.