As global currency competition intensifies in the digital space, Chinese economists are urging a dual-track approach to strengthen China's monetary position — leveraging both central bank digital currency innovation and stablecoin development, with a clear eye on the future of cross-border payments and digital asset ecosystems. They have pointed to the need to break a structural limitation of China's CBDC, or the digital yuan — its monetary classification as M0 or essentially cash equivalents — to expand its usage scenarios, especially in cross-border business-to-business transactions. Stablecoins are a type of ... (full story)