China attempts to gain power in the Pacific, the Middle East and Africa, financed by hard currency earned from manufacturing for the U.S. and European markets.

Source: https://www.bangordailynews.com/2023/02/11/opinion/opinion-contributor/chinas-weather-balloon-creates-hostile-climate/

Currently, the risk premium on bonds issued by 18 emerging economies in JPMorgan’s EMBIG hard currency index stands more than 1,000 basis points over U.S. Treasuries, effectively shutting them out of international capital markets.

Source: https://business.inquirer.net/393830/china-driven-growth-seen-helping-emerging-assets-despite-bank-worries

Shortages in hard currency in certain markets has resulted in slower than expected payments for seed sold in the 2022/23 season.

Source: https://www.marketscreener.com/quote/stock/DONEGAL-INVESTMENT-GROUP-54841982/news/Donegal-Investment-Stock-Exchange-Release-28-02-23-Final-44100721/?utm_medium=RSS&utm_content=20230613

Trust currency is equivalent to both hard currency and digital currency.

Source: https://www.voicemagazine.org/2023/04/07/the-aggravation-tax-and-transacting-in-trust-currency/