Why Beijing Wants a Digital Yuan

Avid Investor

Source: https://mises.org/wire/why-beijing-wants-digital-yuan

03/26/2021Joseph Solis-Mullen

In his 2011 book On Russia, former US secretary of state Henry Kissinger used the ancient Chinese game of Weiqi, or Go, as it is also commonly known, as an extended metaphor to conceptualize and explain the decisions of the Chinese regime in both foreign and domestic policy. A game of strategic domination akin to chess, Go is won by building and maintaining key positions around the board, rather than by any strategy of outright attrition. Understood as one of the stones placed upon the board, the digital yuan joins the Belt and Road Initiative (BRI), the Regional Comprehensive Economic Partnership (RCEP), and militarization of the South China Sea as part of a strategy for squeezing US positions both internationally and domestically.

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