Why the US can't afford to fall behind in the global digital currency race
China's official app for digital yuan is seen on a mobile phone placed in front of an image of the Chinese flag, in this illustration picture taken October 16, 2020. REUTERS/Florence Lo/Illustration Chinese officials have made it no secret that their greatly accelerated efforts at introducing and distributing the digital yuan are an opening move in their long-term strategy to undermine the dollar’s global supremacy and expand their influence. Despite that, leading US financial officials have rolled their eyes at any suggestion that deeper dangers lurk for the dollar, and thus also for US na...