How China’s digital currency will thwart US dollar trap and help the world

//How China’s digital currency will thwart US dollar trap and help the world

How China’s digital currency will thwart US dollar trap and help the world

The US dollar displaced the British pound as the world’s leading reserve currency at the beginning of the last century. Since the Bretton Woods Agreement in 1944 linked world currencies to the dollar, it has reigned supreme.As China opened up and became integrated with the world trading and financial systems, it has been caught in a “dollar trap”, having to convert excess national savings into secure, internationally-convertible US treasuries.Over the years, the US has enjoyed the dollar’s…

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By | 2020-12-28T14:00:06+00:00 December 28th, 2020|Business|Comments Off on How China’s digital currency will thwart US dollar trap and help the world