Is China going to let yuan free floating so it can become global currency? or is China going to keep control but hamper yuan from becoming global currency? I doubt China can have its cake and eat it too. If China want to keep control, then I actually think it is better if China use HK currency for external trade. Let HK dollar do the role as global currency. I think it is easier rather than trying to do it with yuan. But to do that, HK need to secure itself from American control. HK need to depeg from US dollar, build digital currency that can bypass US control SWIFT and back HK dollar with gold, silver, other commodities and multiple currencies including yuan. HK should emulate the tether stable digital currency.