As China moves closer to rolling out the world’s first major sovereign digital currency, speculation over the global implications has reached a fever pitch.
Historian Niall Ferguson is calling the digital yuan a "potentially fatal challenge” to decades of American financial hegemony. Franklin Templeton’s Michael Hasenstab says it could undermine the dollar’s role as the world’s reserve currency. Joe Biden’s White House is studying the potential threat to U.S. interests.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see this support page.
We humbly apologize for the inconvenience.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.
SUBSCRIBE NOW
PHOTO GALLERY (CLICK TO ENLARGE)
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.