I was just about to say that. China has an economic system where it is politically feasible for the state to own significant assets and portion of the economic

I was just about to say that. China has an economic system where it is politically feasible for the state to own significant assets and portion of the economic capital. The West doesn't, we have a (mostly neoliberal) system based heavily on finance and private ownership, and nationalization of assets is an impossible policy. You can destabilize the finance system by creating free money, in fact, according to exogenous money theories, it was always possible to create money out of thin air. But until cca 1980s, the creation of new money was confined to financial institutions (not just government) and heavily regulated. The regulation was gradually lost (that's why we are having these asset bubbles and financial crises), and Bitcoin democratized the money creation even more. But regardless whether you believe or not that Bitcoin can destabilize financial system, ultimately, if things go south, China can actually react and pull the plug on the financial industry, limit its power in the economy at large, because it owns big chunk of it (or can make sure it owns it). In the West, however, this is a political issue, and governments can only watch the financial system fail and cause another big recession (or at least, huge misallocation of resources, for example in real estate). So why would China care? Geopolitically, they have the upper hand. We should care, though!