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China digital currency: could Beijing’s advanced e-yuan replace smaller Asian currencies?

Summary:
[unable to retrieve full-text content]Central banks around the world are developing sovereign digital currencies to improve international payments, but one concern that has emerged is that a foreign digital currency could displace a domestic one, especially in smaller Asian nations with less effective financial systems, analysts said.There is potential for a major central bank digital currency (CBDC) to make inroads into daily transactions, causing harmful spillover effects in the domestic financial market and challenging monetary…

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[unable to retrieve full-text content]
Central banks around the world are developing sovereign digital currencies to improve international payments, but one concern that has emerged is that a foreign digital currency could displace a domestic one, especially in smaller Asian nations with less effective financial systems, analysts said.There is potential for a major central bank digital currency (CBDC) to make inroads into daily transactions, causing harmful spillover effects in the domestic financial market and challenging monetary…

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