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Tags: china | digital yuan | threat | dollar

China's Digital Yuan Poses Growing Threat to US Dollar

A woman shows a smartphone app that allows its user to buy things with digital yuan on Dec. 14, 2020, in Suzhou, China. (Kyodo via AP Images) 

By    |   Friday, 09 April 2021 07:36 AM

China is forging ahead with a plan to launch a digital-version of their currency, the yuan, a high-tech gamble that some economists warn could pay off, threatening the U.S. dollar and expanding China’s global dominance.

China experts predict the digital currency could debut worldwide as early as next year — just in time for the Winter Olympics, which is set to be held in Beijing. In an effort to get the new currency up and running, however, Chinese banks have already begun providing people in several cities with digital money, also known as CBDC, DCEP, or eCNY, to make payments using pilot programs.

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China is forging ahead with a plan to launch a digital-version of their currency, the yuan, a high-tech gamble that some economists warn could pay off, threatening the U.S. dollar and expanding China's global dominance...
china, digital yuan, threat, dollar
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2021-36-09
Friday, 09 April 2021 07:36 AM
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