This as China and other countries continue to dump US Treasury debt at record levels.
this post was submitted on 09 Oct 2025
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I don't think either of those issues impact a command economy anywhere near as much as they do a laissez-faire system. Both issues affect the exchange value of the currency. A command economy that doesn't rely on imports for its critical products and services can use alternative means to apportion and distribute them internally.
You can also have a dual system. Gold backed currency for external trade, fiat currency for domestic economic activity.
China is attempting to create an equitable global economic system that works for all nations, not just itself. To do that, it has to consider how exchange rates are going to work for everyone.
In a FULL gold standard system, theoretically a country cannot get that currency without having the same amount of gold in reserve. I doubt China will propose that because of the limitations that it implies.