China has been testing the Digital Yuan and soon the Digital Yuan (DCEP) will be implemented soon. Will this move make China even more independent and more powerful? And what are the consequences for the world trade
The short answer is, it depends
If this currency is used only within China, it is not going to change anything. Well, it this form of money turns out more efficient, it may help China a little, but I don't think that much. On the other hand, they are developing not only the digital variety of yuan but also a kind of regional currency. This is a different matter, and since many Asian countries such as Japan and Korea have already expressed their favorable attitude toward such a currency, it may be a game-changer for this corner of the world