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China is testing a national digital currency — one piece in Xi’s bid for global influence

Updated : May 24, 2020 09:15 PM IST

Chinese President Xi Jinping’s move to impose new national security laws on Hong Kong is just one of his many calculated wagers designed to leverage Covid-19′s disruptions for greater domestic control and global gain.
Most intriguing and least noticed, “China became the first major economy to conduct a real-world test of a national digital currency,” wrote Aditi Kumar and Eric Rosenbach this week in Foreign Affairs.
The impact of that move, over time, could have greater global impact than anything Beijing does in Hong Kong or even to Taiwan.
China is testing a national digital currency — one piece in Xi’s bid for global influence

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