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China's understated moves on e-CNY belies its potential sway

Tang Weng Fai
Tang Weng Fai • 6 min read
China's understated moves on e-CNY belies its potential sway
With China’s share of global trade and power of its banks, CIPS stands a chance of becoming a viable alternative to SWIFT
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It’s getting harder to ignore digital currency these days with the flood of news on the topic.

Amid the noise, a little something called central bank digital currencies (CBDC) has crept into the public eye, but not much is known about its connections with other parts of the payments landscape, especially the link with a larger trade-related ecosystem China is trying to cultivate.

The understated moves of China, in particular, has gotten fewer column inches than equivalent noise about the trading frenzy in bitcoin and linked issues.

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