U.S. Elections Seal China’s Victory in Digital Currency Supremacy

 U.S. Elections Seal China’s Victory in Digital Currency Supremacy

The world is in a financial war and China is winning. China’s digital yuan, also known as digital currency electronic payment or DCEP, will soon be used worldwide. The People’s Bank of China is one of the most advanced central banks in the world. For that reason, it has been advancing on the digital currency front, while the United States Federal Reserve does not appear to have done so.IMF lawyers argue that central banks need to reform their laws before they can issue a CBDCY now that Donald Trump and his “U.S. first” policy have been defeated, although the count is still ongoing and court cases on the results are pending, China’s supremacy in the area of digital currency is assured.Joe Biden has not outlined a clear technology policy, let alone a digital currency policy. That will ensure China the opportunity to increase its leadership in the digital currency race. Maintaining the U.S. position as a global superpower is nowhere on Biden’s agenda. In 2015, as vice president, Biden once made a toast to China:”In the hope and expectation that 50 years from now our great-grandchildren will look back and tell the beautiful story we wrote together. In 1979, Biden traveled to China as a junior senator after President Richard Nixon normalized U.S.-China relations. During his visit to Sichuan University as Barack Obama’s vice president in 2011, he said:”I believed in 1979 and said so and I believe now that a rising China is a positive development, not only for the people of C
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Redak staff

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