Digital RMB vs. Dollar Hegemony? Friendly Foes in China-US Currency Competition
Falin Zhang,
Yang Cui,
Malcolm Campbell-Verduyn
Abstract:Digital transformations are impacting inter-state currency politics in strategically important ways. This article contributes to growing debates over the nature of US-China competition as the Chinese RMB rapidly digitizes in ways said to challenge the hegemony of a slower digitizing greenback. We categorize existing views of currency competition in the digital age into two categories: ‘conventional transformation’ and ‘transformative continuity’. Both these presently dominant perspectives, we argue, are overly… Show more
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