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Bit by bit, central bank digital currencies like China’s will eat into US dollar hegemony | South China Morning Post

Source: scmp.com scmp.com
News Snapshot:

Currency wars have long been waged by the United States and others against the likes of Japan and China . The tables could be turned before long, however, if target nations weaponise digital currencies against attackers. With stronger economic sanctions being levied by the US and others against Russia, the issue has assumed greater importance. The incentive for Russia to accelerate digital currency development is greater now that some Russian banks are being denied access to the Swift international payments network. With the advent of central bank digital currencies or CBDCs – a development in which China is playing a…

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