China’s Crypto Market: Digital Yuan as an Alternative to Private Cryptocurrencies

... ever succeeded in maintaining global economic leadership without controlling global finance. Since the dollar and the euro stand firm and unshakeable in the global finance system, it is an urgent task for China to take the leading positions in Asia’s finance systems. A successful launch of the digital yuan could subsequently expand its use, for instance, to service transactions of the Belt and Road Initiative. Yet, should the digital experiment fail, investors’ interest in China’s economy might weaken, and this could dent China’s reputation ...