Insights

China is testing a national digital currency — one piece in Xi’s bid for global influence – May 23, 2020 on CNBC

KEY POINTS
  • 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.