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While the geopolitical focus on China currently revolves around US-China tensions, semiconductors and Covid restrictions, China’s central bank has been silently pushing another project of potentially geopolitical significance. Since 2020, the People’s Bank of China (PBoC) has been conducting trials for a “Central Bank Digital Currency” (CBDC), experimenting with various e-CNY digital payment applications for restaurant, entertainment and public services. However, whether this centralized solution can aid China’s ambitions to influence international payment systems remains in question.
By Experts Table.Briefings
A new law is to bring together China's various social points systems. It should be noted that many authorities with different goals have contributed to the draft. But it already points the way to a future with even closer-meshed monitoring.
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At the G20 summit in Bali Xi Jinping stormed back onto the world political stage. He wants to regain diplomatic ground for China after his long Covid isolation. To do so, he is apparently even willing to compromise on the final declaration.
By Michael Radunski