China's central bank chief calls for the transition from dollar dominance to a multi-currency system with the digital Yuan in a leading area

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China strebt nach einem Mehrwährungssystem – Der digitale Yuan im Fokus Der Gouverneur der chinesischen Zentralbank hat sich für eine Abkehr von der Dominanz des US-Dollars ausgesprochen und fordert die Etablierung eines Mehrwährungssystems. Im Rahmen dieser Bestrebungen spielt der digitale Yuan eine zunehmend wichtige Rolle. In den letzten Jahren hat der US-Dollar als global führende …
China strives for a multi-currency system-the digital Yuan in the focus of the governor of the Chinese central bank has spoken out for a departure from the dominance of the US dollar and calls for the establishment of a multi-currency system. The digital Yuan plays an increasingly important role in these efforts. In recent years, the US dollar has the leading global ... (Symbolbild/KNAT)

China strives for a multi -currency system - the digital Yuan in focus

The governor of the Chinese central bank has spoken out for a departure from the dominance of the US dollar and calls for the establishment of a multi-currency system. The digital Yuan plays an increasingly important role in these efforts.

In recent years, the US dollar has dominated many countries in their trade relationships as a global leading currency. However, this dependence on a single currency carries risks and challenges, especially in times of economic uncertainties. Against this background, the Chinese central bank has recognized the need to strengthen alternative currencies and diversify the international currency system.

The digital Yuan, officially known as "E-Cny", is a central bank-supported digital currency approach that aims to modernize China's financial system and make it more internationally. By introducing digital Yuan, China not only wants to promote its own economic interests, but also enable broader acceptance of currencies in international trade.

The creation of a multi -currency system could help countries that are faced with the challenges of strong dollar addiction, and at the same time offer a more stable financial basis. The digital Yuan could act as one of the key dimensions of this system by offering the internationally acting economic actors a new, digital option.

With the progressive developments in the field of digital currencies and the increasing digitization of global trade, it is likely that China's initiative will encounter further international interest.