Earning dollars and spending RMB is the most enjoyable thing in the world!
Chinese currency enthusiasts actually live quite comfortably because we earn in dollars and spend in RMB. If you don't believe it, take a trip to Europe: the median salary in Spain is about 1500 euros. After taxes, social security, and other miscellaneous expenses, you end up with roughly 1200 euros. But consider that prices in Spain, whether for water, electricity, healthcare, or daily necessities, are higher than in China. If you can earn four to five thousand RMB a month in China, it’s actually comparable to the income level in Spain. Moreover, among European countries, Spain has relatively low prices. Looking at Japan and Southeast Asia, prices are not low there either.
If you earn RMB and spend dollars or earn RMB and spend euros, you would feel: that hurts! Because your purchasing power needs to be divided by 7 or 10. What makes Chinese currency enthusiasts comfortable? You earn in dollars but spend in RMB. If you earn 300 dollars today, that's over 2000 RMB. No matter how you spend it in a day, isn’t 2000 RMB quite enjoyable? The cost of living in China is not considered high, so earning dollars and spending RMB is the most enjoyable thing in the world.
Secondly, China is currently the largest and not fully open single market in the world. With over a billion people, we used to be the absolute main force in this industry, but now we are the only ones who haven't fully opened up. Many people will say this is not compliant domestically, but it is also a huge opportunity. As long as there is demand, there is opportunity. Just because it isn’t open now doesn’t mean it won’t be in the future. Consider two important points: 1. Hong Kong has also passed a stablecoin bill; 2. Beijing has also issued a statement about "disposing of digital currency assets involved in cases through the North Exchange," which indicates that the trend is moving in a positive direction.
If it really happens in the next 5 or 10 years, it should be an epic dividend. At that time, it won't be about whether you can catch it, but whether you can hold on to it.