Geopolitical fallout of central bank digital currencies

[Lenipiw]

China might lead the charge into the digital economy, but will being the first major economy to launch a CBDC be enough to win global reserve currency status? China’s Digital Currency Electronic Payment system is at the forefront of news around central bank digital currencies, or CBDCs. As China will be the first nation to launch a CBDC, the changes a digital yuan promises for global economics and the role this plan plays in pushing for a “currency war” keeps its project in headlines.

For its part, the proposed currency not only poses a threat but is intended to threaten, and potentially unseat, the U.S. dollar for the top position of global reserve currency. However, to understand how successful a digital yuan may be in this endeavor, it’s important to understand the current hierarchy of reserve currencies.
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