Tag: disgruntled

GT Voice: Are American politicians disgruntled at digital yuan innovation?

Residents who received “red packets” of digital yuan use the money in stores in Shenzhen, Guangdong Province. Photo: Li Hao/GT

China’s leading position in developing and testing its digital currency, appears to be another source of disgruntlement by politicians in Washington, whose obsession of defending the US dollar hegemony is unlikely to impact China’s current momentum to accelerate digital yuan test and deployment.

Officials from the Biden administration are seriously worried whether China’s digital yuan push will begin to dent the US dollar’s dominant position in cross-border transactions in the long run, and whether the digital yuan would be widely

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