State media outlets like CGTN criticize "disorderly capitalist expansion" and point at Jack Ma while looking into a mirror. We witness a cutting edge power game between private capitalism and state capitalism. The situation makes me recall a quote from Jewish theologian Martin Buber: The real struggle is not between East and West, or capitalism and communism, but between education and propaganda.
The 2021 introduction of the world's first digital currency might be a final blow to rising Chinese tech companies which offer financial services. A technocrat government will win over corporate power. I explained in 2018 why people and planet will loose either way.
The EU has announced quite recently its ambitious Green Deal. Since the US are lost in a deeply corrupted world of corporate capitalism, European sober mindedness and environmental awareness are the last hope for humanity to get bureaucratic top down support in fighting climate change and creating more economic fairness.
Developing a European digital currency which puts the right values in place will play a crucial role in providing an alternative to Xi Jinping's dystopian ambitions. Nobody wants to be queuing in a line behind a billion people as Damian Ma wrote already in 2013.