Bitcoin Limits Influence On South America – Bitcoin Magazine

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This is an opinion editorial by Vinicius Piscini, a bitcoin pleb.

Despite the great growth potential of countries in Latin America, such as Brazil, Argentina, Chile and even Paraguay, external influences contribute to the stagnation and purposeful economic decline of these countries. We can affirm that the international protagonism that such potential would provide in normal times of fair competition is dwarfed by the manipulations of great powers, prominently the U.S. and China..

Several players are interested in exerting their influence in the developing world. The American financial system, characterized by the hegemony of the dollar in international reserves and the relevance of American monetary policy for other countries, ensures that the U.S. is on an unreachable footing in the diplomatic arena. Bitcoin can be a scourge for this, thanks to its decentralized system and, more importantly, the fact that it has no controlling body (not even a known founder), making it impossible for unfair competition.

Chinese Competition

When we analyze Chinese interference tactics, we observe the predatory lending by which China has completely dominated countries like the Maldives and Sri Lanka. This is currently happening in many South American countries too. There is also the direct creation of military bases, such as in Paraje Quintuco in the Neuquén province in Argentina being built under the guise of a space station. Other than this, we see the great influence that the Chinese system exerts all over the continent in the form of policies adopted there that have been tried in China — something very evident after the control measures taken on the pretext of COVID-19.



Source link Bitcoin Magazine

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