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  Now, more than 1,400 years later, China is again on the cusp of creating a new form of government currency that some say could pose a serious economic threat to America and the West. In effect, they are not cryptocurrencies, they are not so-called stable coins, in effect, they are the national physical currency of a country just represented in a digital form, said Erik Bethel, former U.S. executive director with the World Bank. Bethel says while the world fixates on private cryptocurrencies like Bitcoin, Beijing is busy building a digital version of its own currency, the Yuan, also known as the Renminbi, to control its citizens and eventually threaten the dominance of the U.S. Dollar.

North koreaUnited statesErik bethelMichael mccaulYaya fanusieFinancial technology developmentPeople bankWorld bankHouse foreign affairs committeeChinese communist partyNew americanCongressman michael mccaulCongressman mike waltzMiddle eastவடக்கு கொரியாஒன்றுபட்டது மாநிலங்களில்