Image credit: Rin Rothback/CNAS
January 12, 2022
China's Digital Currency and Authoritarianism
China is the first major economy to develop and implement a central bank digital currency (CBDC). Its CBDC has many names: Digital Currency/Electronic Payment (DCEP), the digital yuan or renminbi, and electronic Chinese yuan (eCNY).
A new video explainer from CNAS explores how Beijing’s CBDC efforts will have critical ramifications for the Chinese Communist Party’s digital authoritarianism. As China is in a national blitz to digitize its entire economy, it is strengthening its hand for domestic social control while also influencing financial technology innovation in the global financial system.
To find out more about the ground truths of China’s CBDC, you can read the January 2021 CNAS report: China’s Digital Currency: Adding Financial Data to Digital Authoritarianism.
Learn More
Energy, Economics & Security
China’s Digital Currency
China is pushing aggressively to be a global leader in financial technology....
Energy, Economics & Security
China Is Making Smart Money
As a U.S. national security matter, China’s progress in the digital renminbi is more about China’s ambition to harness data than it is about advancing its currency....
Energy, Economics & Security
The Promises and Perils of Central Bank Digital Currencies
Chairman Himes, Ranking Member Barr, the distinguished members of the subcommittee, and my fellow panelists, it is an honor to participate in today’s hearing. Please allow me ...
More from CNAS
-
Comments on Provisions Pertaining to U.S. Investments in Certain National Security Technologies and Products in Countries of Concern
Commentary
Submitted by: Sarah Bauerle Danzman (Associate Professor, Indiana University Bloomington; Senior Fellow, Atlantic Council), Tim Fist (Fellow, Technology and National Security ...
By Emily Kilcrease, Tim Fist, Sarah Bauerle Danzman, Ngor Luong & Emily Weinstein
-
Turkey’s economy will get ‘tighter and tougher,’ says advisory firm
Video
Rachel Ziemba of Ziemba Insights says the governor of the Central Bank of Turkey is trying to front-load monetary policy adjustments in an effort to avoid making things worse....
By Rachel Ziemba
-
Unilever Mulling Over Whether It Will Leave Russia
Podcast
The multinational company, Unilever, is deciding on the future of its business operations in Russia. This comes after new management has taken over. The World’s Marco Werman s...
By Rachel Ziemba
-
As China Tensions Bubble, a New Economic Weapon of Choice Has Emerged
Commentary
The Russia export restrictions epitomize the highs and lows of this new regime....
By Daniel Silverberg & Elena McGovern
