China’s CBDC is about domestic dominance, not beating the dollar

For the past several years, the trade war between China and the U.S. has been at the center of international relations, with technology playing an outsized role.

Within crypto, advancing interest in central bank digital currencies has become part of that narrative of geopolitical competition. Many have framed the development of CBDCs in China and the U.S. as a race — in which case, China is clearly closer to launch and, hence, the “winner.”

The digital currency race that wasn’t

The tech monopolies that were

The IPO offering that almost was

The crypto outcry that shouldn’t have been

The CBDC that may one day be