While U.S. financial policymakers are only beginning to study and debate the possibility of creating a digital dollar, China is amidst a national blitz to digitize its entire economy. For several years, the digitization of the economy has been mostly a Chinese Communist Party (CCP) talking point reserved for state planning documents. Now it is becoming a reality. In July, China’s central bank, the People’s Bank of China (PBOC), published a 15-page white paper outlining its progress in developing the nation’s central bank digital currency, known as the “eCNY” or digital renminbi. The white paper offers the first ... (full story)