Chinese currency in the year 800 was commodity-backed paper, and currency in the modern United States is fiat currency. Below is an explanation of its value.
In 800, Chinese currency was a commodity-backed paper currency. This means that any paper currency could be exchanged for a commodity such as gold or silver. The modern United States uses fiat currency. This currency has no intrinsic value and cannot be exchanged for a commodity.
Therefore, the answers are commodity-backed paper currency and fiat currency.
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